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Oil prices surge, but no panic yet, as Iran war continues

03:42
A motorboat cruises off the coast of the United Arab Emirates, on the Strait of Hormuz, with a tanker seen in the background, on February 25, 2026. Tanker traffic through the strait has come essentially to a stop after Iran declared the strait closed following attacks on Iran by the U.S. and Israel. (AFP via Getty Images)
A motorboat cruises off the coast of the United Arab Emirates, on the Strait of Hormuz, with a tanker seen in the background, on February 25, 2026. Tanker traffic through the strait has come essentially to a stop after Iran declared the strait closed following attacks on Iran by the U.S. and Israel. (AFP via Getty Images)

This article was originally published on March 02, 2026.

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