Iran Conflict Slashes Hormuz Flows 30%; Oil Shock Pressures Equities, Lifts Energy Producers

The Iran war has cut crude and fuel flows through the Strait of Hormuz by nearly 6 million barrels per day in Q1 2026, a seismic energy shock that has reignited inflation fears and forced US long-bond yields above 5% for the first time since 2007. Energy importers face margin pressure, while producers, defence contractors, and hard asset beneficiaries see valuations reassessed upward.