Brent Jumps 3.4%, Stocks Plunge: Hormuz Crisis and Market Reactions

Brent crude surged 3.4% and global markets tumbled as US operations against Iran in the Hormuz Strait escalated. US Central Command announced new strikes to prevent Iranian attacks on civilian vessels. Brent rose from $72.48 to $78.59. European markets dropped 0.2%, with chip stocks SK Hynix (-15%) and Samsung Electronics (-10%) among the hardest hit. Gold fell 1.4%. Goldman Sachs analysts noted, 'The uncertainty in Gulf exports could reignite short-term upside risks for oil prices.' Kpler data showed the fewest vessels transiting the Strait in five weeks. OPEC cut its 2026 demand forecast to 780,000 barrels per day.

Markets are interpreting this as a new phase of conflict over Iran's control. With the US operations aimed at preventing attacks, short-term oil price upside risks persist. Chinese and Japanese markets also fell 2%.