US airstrikes on Iranian military targets follow attacks on commercial tankers near the Strait of Hormuz, raising concerns over European energy security and market stability.
Russia’s seaborne crude oil exports reached a record high since early 2026 amid eased US sanctions and rising competition from Iran, impacting global prices and European markets.
The US may impose fees for passage through the Strait of Hormuz if talks with Iran fail, posing risks to UK and EU energy supplies and London's financial markets.
The US has lifted its blockade of the Strait of Hormuz, enabling record oil flows that could stabilize UK and EU energy markets and influence sterling valuations.