Six months into the Iran conflict, Brent briefly tops $120 as AI lifts global stocks to $105 trillion
AI Market Summary
Six months into the Iran conflict, energy supply disruptions and Strait of Hormuz shipping risks have kept Brent structurally higher, with spillovers into diesel and heating oil and broader inflation sensitivity. Global equities have remained resilient on AI-led flows, while Treasuries and gold have shown atypical safe-haven behavior amid inflation and policy uncertainty. Fertilizer logistics disruptions add renewed global food-inflation risk, with Gulf economies bearing the most direct growth hit.
Impact level
● High
Affected assets
NCCO1OILBRENT2USD/USDT+0.48%
AI Insight · NCCO1OILBRENT2USD/USDTAI Insight
● Neutral
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Six months after the Iran conflict began, energy prices jumped, with Brent crude briefly rising above $120 a barrel and averaging around $90 in 2026 versus roughly $70 in 2025. Disruptions to Gulf output and shipping through the Strait of Hormuz weighed on the region, with Saudi exports down 10% from the first to the second quarter. Global equities held up as AI-linked investment supported risk assets, pushing the MSCI World index’s valuation to about $105 trillion this month and adding almost $7 trillion since the conflict began. Traditional safe havens such as Treasuries and gold drew less consistent demand, while fertiliser and agricultural supply chains faced disruption and renewed inflation concerns, according to Reuters.
