Commodity Compass Weekly
Commodity Compass Weekly
Jennifer Pickerel
Commodity Compass – 3/6 - The Iranian Conflict Launches Oil Volatility
13 minutes Posted Mar 7, 2026 at 3:50 am.
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The commodity complex was thrown into one of the most geopolitically charged environments we’ve seen in years this week. Joint U.S. and Israeli strikes on Iranian targets escalated tensions across the Middle East and immediately forced markets to reprice risk. The Strait of Hormuz—through which roughly one-fifth of global oil supply normally moves—saw shipping slow dramatically, with insurers pulling coverage and tanker traffic collapsing as the region turned into a conflict zone.