Global Hotspots Outlook: U.S./Iran War Disrupts Global Energy Markets

This week, the U.S. and Israel continued their military campaigns against Iran and Lebanon, while Tehran vowed to block oil exports from the region, leading to worldwide repercussions in the energy sector.

Despite the strikes, China stated it would likely go ahead with an upcoming summit with President Donald Trump at the end of March, while the South Korean parliament approved the $350 billion investment in the United States. 

Representatives from the Trump administration met with their Russian counterparts to discuss the potential easing of sanctions against Russia, while talks on ending the Russia-Ukraine war remained on hold. 

In the Americas, the Trump administration maintained pressure on Cuba and opened new trade investigations that could see new tariffs being imposed globally by July.  

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_{Photo: Commercial vessels are pictured offshore in Dubai on March 11, 2026. (Photo by AFP via Getty Images)}