Oil price rises as Iran responds to Israel and US attacks

The oil price has surged to $82 a barrel amid disruption in the Strait of Hormuz as Iran responds with multiple missiles across the Middle East after the US and Israel launched strikes on Iran over the weekend; the UAE has closed its stock markets for two days.
March 01, 2026

Markets are set to reopen on Monday March 2 after Israel and the US launched airstrikes over the weekend on multiple cities across Iran in a pre-emptive attack, including many targets in Tehran. 

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