The escalating conflict involving the United States, Israel and Iran is already disrupting global commodity markets, tightening supply across energy, fertilizers, chemicals and several metals while raising the risk of prolonged price volatility
Analysts at BMO Capital Markets say the region’s central role in global supply chains has triggered sharp price reactions in commodities tied to Middle Eastern production The most immediate impacts have been seen in oil and fertilizer markets, where supply is highly concentrated
Oil markets have experienced the most significant disruption According to BMO oil and gas analyst Randy Ollenberger, the conflict represents one of the largest shocks to oil markets in decades Prices briefly surged toward $120 per barrel before stabilizing near $90, but analysts warn the market may still be underestimating potential supply risks
