Middle East conflict sparks global market rout as oil and gas surge
Mar 3rd 2026
Closure of the Strait of Hormuz sent Brent above $82 a barrel and European gas up about 25 percent, stoking inflation fears and a broad sell-off across markets.
- European stocks slid sharply with the STOXX 600 down about 2.5% and Germany off roughly 3 to 4% in early trade.