Oil Price Shock from Iran Conflict Dominates Energy Markets as Climate Policy Advances

Brent crude surged 3.4% to $91.09 per barrel after U.S. forces struck Iranian targets near the Strait of Hormuz, triggering a retaliatory missile attack that raised fears of further supply disruptions. European natural gas prices followed suit, topping €70 per megawatt-hour for the first time since January 2023, as the conflict threatens liquefied natural gas shipments through a chokepoint that normally handles one‑fifth of global trade. In Washington, President Trump...