The following is the March 11, 2026, Congressional Research Service report, the Iran Conflict and the Strait of Hormuz: Impacts on Oil, Gas and Other Commodities. From the Report U.S. and Israeli military operations against Iran since February 2026 and subsequent Iranian military action throughout the Persian Gulf have raised concern about oil and natural gas markets in relation to the Strait of Hormuz (the Strait). Starting on March 4, 2026, Iranian forces have declared the Strait “closed,” threatening and carrying out attacks on ships attempting to transit the Strait. In light of a considerable decrease in shipping traffic, President