As of March 5, 2026, the escalation of the conflict involving Iran has pushed Brent crude prices toward $80 per barrel following the de facto closure of the Strait of Hormuz. With approximately 20% of global daily oil consumption currently stalled and major maritime insurers withdrawing war-risk coverage, the energy market is pricing in a significant geopolitical premium. While the U.S. Energy Department maintains that record domestic production will buffer long-term shocks, analysts warn of a potential spike toward $100 should regional infrastructure sustain direct hits during the ongoing "total war" declarations.