US-Israel Conflict with Iran Disrupts Oil Supply
Analysis based on 7 articles · First reported Mar 10, 2026 · Last updated Mar 11, 2026
Oil prices rebounded due to doubts about the International===International Energy Agency's reserve release offsetting supply shocks from the U.S.-Israeli conflict with Iran. The ongoing conflict, including airstrikes and threats to shipping in the Strait of Hormuz, is causing significant disruptions to Gulf oil supply, potentially driving crude prices much higher.
Oil prices rebounded as markets expressed skepticism regarding the International===International Energy Agency's proposed record release of oil reserves to counter potential supply shocks. This skepticism stems from the escalating U.S.-Israeli conflict with Iran, which has involved intense airstrikes against Iran and the elimination of Iranian mine-laying vessels near the Strait of Hormuz. U.S. President Donald Trump has warned Iran about mines in the Strait, a critical shipping lane. The conflict has already led to the shutdown of Abu Dhabi National Oil Company's Ruwais refinery due to a drone strike and reduced oil output from Iraq, Kuwait, and the United Arab Emirates. Analysts from Goldman Sachs, DBS Bank, SEB Group, Wood Mackenzie, and Morgan Stanley have weighed in, with Wood Mackenzie estimating a 15 million barrels per day cut in Gulf oil supply, potentially raising crude prices to $150 per barrel. G7 officials, including French President Emmanuel Macron, are discussing measures to address the energy impact.
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