Oil: Escalation risks from Iran conflict – NBC

National Bank of Canada’s (NBC) Angelo Katsoras outlines how an Iran conflict could severely disrupt Oil and gas markets if key energy infrastructure and the Strait of Hormuz are targeted. National Bank of Canada’s (NBC) Angelo Katsoras outlines how an Iran conflict could severely disrupt Oil and gas markets if key energy infrastructure and the Strait of Hormuz… National Bank of Canada’s (NBC) Angelo Katsoras outlines how an Iran conflict could severely disrupt Oil and gas markets if key energy infrastructure and the Strait of Hormuz are targeted. National Bank of Canada’s (NBC) Angelo Katsoras outlines how an Iran conflict could severely disrupt Oil and gas markets if key energy infrastructure and the Strait of Hormuz are targeted. He notes that while worst-case scenarios have been narrowly avoided so far, prolonged hostilities raise the risk of miscalculation that could trigger major, long-lasting energy supply shocks.War scenarios threaten global energy flows"However severe the damage already inflicted on the energy… For traders, this matters because commodity headlines often feed directly into inflation expectations, sector rotation and currency pricing. Watch follow-through, not just the first reaction: liquidity, volatility and confirmation across related assets usually tell the real story.