Four weeks of Iran war: Here’s what has happened to oil markets

Published March 29, 2026 5:00am ET



Saturday marks one month since the United States and Israel launched attacks against Iran, resulting in a war that sent shockwaves through the global oil markets. 

The war, which was first started to dismantle Iran’s nuclear weapons capabilities, has quickly become about the control and future of the Strait of Hormuz, one of the most crucial waterways for oil and gas trade across the globe. 

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