Weekly Recap: From Hormuz Standoff To AI Earnings

RunWithRugs · 2026-03-15T12:08:59+00:00

The second week of March saw heightened tensions between the U.S. and Iran, impacting oil prices and leading to military strikes. Iran's new leader vowed revenge, while U.S. economic data showed mixed results. Corporate reports reflected strong demand for AI and cloud services.

RunWithRugs

2026-03-15 12:08:59

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(MENAFN- AzerNews) Akbar Novruz Read more

The second week of March was dominated by the escalating conflict between the United States and Iran, centered on the strategic Strait of Hormuz, the narrow waterway through which roughly one-fifth of global oil supply passes. The International Energy Agency (IEA) also launched a record release of 400 million barrels of oil from strategic stockpiles to curb massive market disruption caused by the war, ** AzerNEWS** reports.

Markets reacted sharply to the rising geopolitical tensions. Oil prices climbed above $110 per barrel amid fears of prolonged disruption to energy flows as Iran reportedly deployed naval mines and launched attacks on commercial shipping, severely disrupting traffic through the strait. In response, the United States carried out strikes on military targets on Kharg Island, a key hub for Iran’s oil exports.

This week, Iran’s new Supreme Leader, Mojtaba Khamenei, issued his first statement since assuming power, vowing revenge for those killed in the conflict and pledging continued resistance against the United States and Israel. During the week, Iran also launched missile and drone attacks against several US and allied targets across the Gulf region, including strikes in Bahrain, Saudi Arabia, Kuwait and the United Arab Emirates.

On the economic front, US inflation for February rose 2.4% year-over-year, unchanged from the previous month and broadly in line with expectations. However, US GDP growth for the fourth quarter of 2025 disappointed, while durable goods remained unchanged. In Asia, inflation data from China showed consumer prices rising 1.3% year-over-year, the fastest pace in more than three years, largely driven by strong Lunar New Year spending.

The week’s most closely watched corporate report came from Oracle, which exceeded expectations with revenue growth of more than 20%, fueled by robust demand for artificial intelligence and cloud infrastructure. Investors also monitored results from Adobe, whose CEO stepped down, NIO, and Hewlett Packard Enterprise for signals on enterprise AI investment trends, while the automotive sector drew attention amid shifting demand.

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