U.S.-Iran Conflict Drives Brent to $119.50 Peak, 64% March Gain Record Since 1988

Iran’s March 4 Strait of Hormuz closure disrupted 20 million barrels per day, 27% of global maritime oil trade. Brent hit $119.50 on March 9, posting 64% March gain, a record since 1988 per LSEG data. Korean equities down 24% month-to-date as of March 31 amid volatility.