Insights

Weekly Market Commentary – 20th March 2026

20 March 2026

This week brought signs that markets are pricing in the long-term effects of the attack on Iran. Energy prices shot higher as fighting in the Middle East closed the Strait of Hormuz. But most attention has been focused on spot petroleum prices available to buy now. The rise in the price of oil and gas for future delivery was much less severe in the first week of the war, as investors assumed a swift resolution. However, futures contracts have tracked the spot price higher as the disruption has continued and attacks on energy infrastructure have intensified.