CNBC Daily Open: Markets brace for impact of U.S.-Iran conflict as shockwaves begin to spread
By Nur Hikmah Md Ali
Published on March 2, 2026.
The death of Iran's supreme leader, Ayatollah Ali Khamenei, has caused concern among investors over the potential impact of the U.S.-Iran conflict. U.K. President Donald Trump announced that he will "avenge" the deaths of three U.N. service members in a pre-recorded Truth Social post, adding that combat operations in Iran will continue. The Strait of Hormuz, a key transit route for global crude oil, could potentially disrupt oil prices and potentially lead to a 1970s-style energy shock if Iran closes the Strait, potentially leading to oil prices reaching triple digits and LNG prices reaching record highs in 2022. The death of Supreme Leader Khamenei has led to concerns about the impact of rapid AI adoption on software firms.
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