Business news - 02 March 2026

Rystad Energy: OPEC+ announces crude production increase following US-Israel strikes on Iran

Monday 02 March 2026 09:25

Rystad Energy’s market update from Jorge Leon, Senior Vice President and Head of Geopolitical Analysis.

Wood Mackenzie: Oil prices could hit US$100/bbl as Strait of Hormuz traffic halts

Monday 02 March 2026 09:02

15% of global oil demand and 20% of global LNG supply typically transits critical waterway.

Strait of Hormuz becomes key oil market risk as US strikes Iran, Rystad Energy commentary

Monday 02 March 2026 08:45

In the early hours of 28 February, the US and Israel launched direct and extensive military operations inside Iran, in what appears to be a campaign broader in scope and intensity than the previous 12-day confrontation. Intercontinental Exchange (ICE) Brent crude oil prompt-month prices are expected to rise by US$20/bbl when trade opens on 2 March.