Middle East Affairs 27 February 2026 - 3 March 2026

Oil prices surge 8% as Strait of Hormuz disruption deepens; Brent tops $83
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Oil prices surge 8% as Strait of Hormuz disruption deepens; Brent tops $83

Oil prices jumped about 8% Tuesday as the U.S.-Israel air war against Iran blocked shipments through the Strait of Hormuz, now closed for a fourth day. Brent hit $83.81 a barrel, its highest since July 2024, while U.S. gasoline and diesel futures surged past $3 a gallon. Iraq cut output by over 1 million barrels per day. President Trump is reviewing options to control energy prices, including use of the Strategic Petroleum Reserve.
March 3, 2026
BAE Systems share price dips after 52-week high as Middle East war keeps investors jumpy
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BAE Systems share price dips after 52-week high as Middle East war keeps investors jumpy

BAE Systems shares fell 0.85% to 2,222 pence in early London trading Tuesday, retreating from Monday’s 6% surge to a 52-week high. The move followed a global rally in defence stocks as Middle East fighting pushed oil prices up nearly 7% and investors shifted away from banks and travel shares. Citigroup raised its BAE price target to 2,438 pence and reiterated a “buy” rating.
March 3, 2026

Stock Market Today

  • Cattle Prices Surge with Rainfall Boost in Australian Markets
    May 30, 2026, 2:16 AM EDT. Cattle prices in Australia have seen significant increases this week due to rainfall in key production areas, especially New South Wales. The Meat and Livestock Australia (MLA) Eastern Young Cattle Indicator (EYCI) reached its highest level since 2022, with prices rising up to 100 cents per kilogram in some saleyards. Heavy cow prices hit record highs, with saleyard prices exceeding $4.20/kg and a record $4.42/kg at Dalby. Meanwhile, Australian abattoirs processed a weekly record of 166,446 head, supporting expectations for a record beef production in 2026. Grain prices fell slightly as rain improved winter crop outlooks, benefiting feedlots now managing a record 1.62 million head of cattle on feed, reflecting continued sector confidence amid global market uncertainties.