The US-Israel-Iran conflict: Why access to the latest energy market information is crucial

Energy is one of the most volatile commodity markets in the world – an intricate space instantaneously impacted by diverse factors such as the weather, supply chain disruptions and geopolitical events.

The recent air strikes and escalating conflict in Iran exemplify the extensive and constantly shifting impacts for global energy prices – and the value of access to the latest energy market information.

What is the context?

On 28 February 2026, the US and Israel carried out strikes on Iran, subsequently killing Iran’s Supreme Leader, Ayatollah Ali Khamenei. This has plunged Iran into its most perilous crisis since the Iranian Revolution in 1979.

In retaliation, Iran struck Israel and US military bases in the region – including Bahrain, Dubai, Qatar, Kuwait and the UAE. Meanwhile, the Iranian-backed Hezbollah has also joined the conflict, prompting Israel to attack targets in Lebanon.

US President Donald Trump has signalled that the US–Israel military assault on Iranian targets could continue for weeks until US objectives are met.

How has the Iran conflict impacted the energy market so far?

Markets rallied due to the conflict, with concerns over further escalation in the region supporting geopolitical risk premia.

On the fourth day of the conflict, a senior official from Iran’s Revolutionary Guard stated that the Strait of Hormuz is closed and that Iran will attack any ships attempting to pass through.

Iran’s most explicit warning yet followed through on years of threats to block the vital waterway. With Strait of Hormuz affecting 20% of global Liquefied Natural Gas (LNG) supply, the closure prompted a 40% surge in daily LNG freight rates.

Additionally, Qatar has halted LNG production at its Raf Laffan terminal, and major Israeli gas fields including Leviathan have also been taken offline, further heightening supply disruption concerns.

Gas prices have also continued to rally – from Friday 27 February close April-26 gas prices have risen by 79%, from 78.57p/therm to 140.99p/therm by Tuesday 3 March close.

Despite the surging gas prices, the European Commission has stated that there are no immediate security-of-supply concerns for the European Union.

The European Commission spokesperson iterated that the EU storage facilities were around 30% full on average and on track to end this winter at high enough levels to ensure refilling before the next winter heating season. However, this has done little to abate market concerns over current global LNG supply disruptions.

Meanwhile, comments from both sides of the conflict about the length of the war are further fuelling speculation and reinforcing geopolitical risk premia along the curve, with markets remaining exposed to heightened volatility.

Where are we now?

The conflict is ongoing, which means the price impacts will continuously evolve. Accessing the latest market information allows you to make informed energy decisions and prepare to the furthest possible extent.

Moreover, turning this information into insights how the current market situation impacts your contract requires industry expertise to view the impacts beyond what news headlines might indicate.