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Hormuz, We Have A Problem

Iran strikes lift risk premium; heavy longs add upside on disruption risk, but correction looms if tensions ease.
Published: March 2, 2026
Written by:
Vincent Wu

Vincent Wu

Research Associate, Flux
Vincent Wu
,
Mita Chaturvedi

Mita Chaturvedi

Research Associate, Flux
Mita Chaturvedi
,
Martha Dowding

Martha Dowding

Research Associate, Flux
Martha Dowding
and
Donna Dong

Donna Dong

Research Analyst, Flux
Donna Dong
Reviewed by:
Giovanni Simonetti

Giovanni Simonetti

Junior Data Analyst, Flux
Giovanni Simonetti
16 page report
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In our Oil Market Report in January, we discussed how support in the oil market was catalysed by the emergence of a geopolitical risk premium amid heightened tensions over Iran. February saw a re-run of the same film, with Washington upping the ante and threatening military action against Tehran if it does not reach a deal about its nuclear ambitions.

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Our reports are now part of The Officials, and available exclusively on the Flux platform. Existing customers can Login to Flux to access them, or you can visit The Officials to sign up for free trial access.

Written by

Vincent Wu

Research Associate, Flux
Vincent Wu

Mita Chaturvedi

Research Associate, Flux
Mita Chaturvedi

Martha Dowding

Research Associate, Flux
Martha Dowding

Donna Dong

Research Analyst, Flux
Donna Dong

About Oil Market Report

A monthly premium report detailing key market factors and movements

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