European natural-gas futures closed at their highest level since January 2023, while U.S. stocks fell and Treasury bond yields rose.
U.S. benchmark crude exceeded $90 a barrel on Tuesday, Sept. 1, 2026, as fighting between U.S. and Iranian forces intensified. That was a reported increase of about 12% over one week. European natural-gas futures reached their highest level since January 2023. U.S. stocks fell and government bond yields rose the same day as markets priced in greater risks of disrupted energy supplies and renewed inflation.
BackgroundWhat the Hormuz disruption has done to flows, insurance and freight
- Ship-tracking estimates put oil moving through the Strait of Hormuz at 2 million to 6 million barrels a day, against about 15 million before the war — a 60% to 87% shortfall.
- War-risk insurance on ships entering the Gulf ran 7.5% to 10% of a vessel's hull value on July 22, up from 1% to 3% only weeks earlier, per broker Marsh.
- Tanker freight on the Argus index reached $11.09 a barrel by April 8, up 54.6% from $7.17 before the war, and rate reports on Sept. 1 described new records.
Chart · pipeline render▲ label over mark