Markets steadied midweek after two days of selling, even as tensions between the U.S., Israel, and Iran continued to dominate global headlines. U.S. and European stocks managed a modest rebound, while several Asian markets remained under pressure as investors tried to gauge how long the conflict might last.

The real focus right now isn’t stocks — it’s energy.

Roughly 20% of the world’s oil and gas supply moves through the Strait of Hormuz, a narrow shipping lane between Iran and the United Arab Emirates. With shipping traffic slowing and insurance costs rising, energy markets reacted quickly. Brent crude has climbed roughly 12% since the conflict escalated, while natural gas prices spiked sharply before pulling back from their highs.

Markets steadied midweek after two days of selling, even as tensions between the U.S., Israel, and Iran continued to dominate global headlines. U.S. and European stocks managed a modest rebound, while several Asian markets remained under pressure as investors tried to gauge how long the conflict might last.

The real focus right now isn’t stocks — it’s energy.

Roughly 20% of the world’s oil and gas supply moves through the Strait of Hormuz, a narrow shipping lane between Iran and the United Arab Emirates. With shipping traffic slowing and insurance costs rising, energy markets reacted quickly. Brent crude has climbed roughly 12% since the conflict escalated, while natural gas prices spiked sharply before pulling back from their highs.