Rising Middle East Conflict Impacts Shipping, Oil Prices, and International Trade
- brg_news_room
- Mar 4
- 1 min read
MIDDLE EAST: Rising geopolitical tensions and policy changes are creating fresh uncertainty in global trade. Escalation in the Middle East following US and Israeli strikes on Iran pushed oil and gas prices higher, with Brent crude briefly exceeding $82 per barrel. The situation has disrupted shipping through the Strait of Hormuz, a route carrying around 20% of global oil and LNG, while attacks also temporarily halted operations at Dubai’s Jebel Ali port. Meanwhile, the US Supreme Court ruled that tariffs imposed under the Trump administration exceeded presidential authority, prompting a temporary 10% global tariff under alternative legislation. The US also reported a record $1.24 trillion goods trade deficit in 2025, while new trade agreements and strategic resource initiatives continue to reshape international trade dynamics.
Source: World Economic Forum
