The Business Times
business-time-50

How will strikes on Iran affect global energy flows?

Teheran has previously threatened to close the Strait of Hormuz shipping chokepoint

Summarise
google-preferred-sourceAdd BT as a preferred source
Published Tue, Mar 3, 2026 · 09:45 AM
    • The main source of market concern is Iran’s influence over shipping in the Strait of Hormuz, through which the oil and gas of its Gulf neighbours have to pass.
    • The main source of market concern is Iran’s influence over shipping in the Strait of Hormuz, through which the oil and gas of its Gulf neighbours have to pass. PHOTO: REUTERS

    IRAN still has an outsized ability to rattle global energy markets.

    A US$10 rise in the price of a barrel of oil since the start of the year is a reminder of how seriously traders take any threat to the country, even though years of US sanctions mean Iran’s oil exports no longer make up a major share of the world’s supply.

    The main source of market concern is Iran’s influence over shipping in the Strait of Hormuz, through which the oil and gas of its Gulf neighbours have to pass, and its sponsorship of militias throughout the region that could launch attacks on energy infrastructure.

    IranUS-Middle East relationsenergy pricesoilShippingExplainer

    TRENDING NOW

    Traffic through the strait has been resuming but with interruptions, and there is still little clarity over a permanent solution for passages through the chokepoint.

    Qatari LNG ship struck in Strait of Hormuz, testing US talks

    This comes after a Citi note on Tuesday that lifted target prices for all Singapore banks, with a leading preference and “buy” call for DBS.

    DBS, OCBC and UOB shares hit all-time highs as sentiment improves

    Aster deputy CEO Andre Khor, citing the age of the “polycrisis”, says: “It’s very important to be agile, to be focused on execution… We don’t know all the answers but we keep going forward.”

    ‘Baptism of fire’: Andre Khor on leading Singapore refiner Aster through an energy crisis

    Singapore is ranked as the world’s most expensive city for cars and placed third globally for residential property, according to Julius Baer.

    Singapore retains top spot as most expensive city for HNWIs, with five Apac cities in global top 10

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More