Business · 1 March 2026

US-Israel strikes trigger oil's 'biggest crisis in decades'

Joint US and Israeli military strikes on Iran on February 28 have severely impacted global energy markets. Energy analysts from Eurasia Group predict a sharp increase in oil prices when markets open. This event has led to one of the biggest crises in decades for the oil market. Should the conflict continue, oil prices are expected to respond with further increases.

By BriefTea Editorial · 1 March 2026 at 10:16

Reported by Reuters · How we write briefs

Get the app

More briefs

BusinessIceland supermarket boss tells the Chancellor to cut business taxes for employers BusinessNorwich trains face disruption in September and October for rail works BusinessEngland's free bus pass age will rise to 67 by April 2028 BusinessBritish tourist visits to Japan up 40.8% since 2019 TechnologyGoogle paying £260m to settle UK Play Store developer lawsuit BusinessSnack makers warn new UK rules could undo years of reformulation work More business stories → Browse all stories →