Brent Crude Hits 36-Month High Amid Hormuz Blockade Rumors
As of August 31, 2026, energy markets are reeling from the latest escalation. Direct military conflict involving Iranian assets has prompted insurance premiums for oil tankers to surge by 300%. For manufacturers, this translate to an immediate 15% increase in the cost of plastic resins and chemical feedstocks.
Analysts warn that if the blockade remains in place for more than 14 days, the structural shortage of industrial aluminum and copper—largely processed using regional energy—could trigger a manufacturing slowdown in the EMEA region.