War in Iran Destabilizes Markets: Sharp Rise in Oil and Gas Prices

Armed aggression and destabilization in the Persian Gulf region have translated into an immediate reaction from financial markets. The price of a barrel of oil rose by about $10 in response to the outbreak of the conflict, reaching a level exceeding $77. The main cause of panic is the paralysis of the Strait of Hormuz, through which a significant portion of the world's energy resources is transported. Tehran is using control over this route as a tool of political pressure, which directly impacts Europe's energy security. The market situation was worsened by reports of paralysis in liquefied natural gas transport from Qatar and threats to Saudi Arabia's export routes following the escalation of military actions. This has led to an unprecedented increase in logistics and maritime transport costs. Italian Defense Minister Guido Crosetto pointed out that transport costs could rise by up to 40 percent, affecting not only fuel prices but also agricultural exports and the availability of fertilizers, one-third of global trade of which passes through the conflict-affected region. The fuel market has remained extremely sensitive to political events in the Persian Gulf for decades. The 1973 oil crisis showed how embargoes and unrest in this region can stifle the global economy within months.In Europe, fuel companies such as Repsol have begun limiting wholesale sales to counteract price speculation. Meanwhile, at gas stations in Germany and Switzerland, a phenomenon described by drivers as a "price explosion" is being observed. Analysts predict that if the conflict is not quickly resolved, energy prices will become the main driver of inflation in the coming quarter. Fearing further escalation, investors are directing capital towards gold, which traditionally serves as a safe haven in times of war. „Con la guerra costi dei trasporti più cari fino al 40%.” (With the war, transport costs could rise by up to 40%.) — Guido Crosetto