WS #16746
Geopolitical tensions have escalated significantly following U.S. strikes on Iranian targets in the Strait of Hormuz, with U.S. officials advising Gulf nations to prepare for swift military operations. This environment has triggered a massive flight to safety, evidenced by central banks purchasing 321 tonnes of gold in Q3 2026, the highest quarterly total since late 2024. Simultaneously, Aramco reported rising profits as refining margins strengthened due to the conflict, benefiting energy sector incumbents while raising broader supply chain risks.
Middle East Conflict & Energy
Geopolitical tensions have escalated significantly following U.S. strikes on Iranian targets in the Strait of Hormuz, with U.S. officials advising Gulf nations to prepare for swift military operations. This environment has triggered a massive flight to safety, evidenced by central banks purchasing 321 tonnes of gold in Q3 2026, the highest quarterly total since late 2024. Simultaneously, Aramco reported rising profits as refining margins strengthened due to the conflict, benefiting energy sector incumbents while raising broader supply chain risks.