In our Investment Perspectives: Middle East Conflict, our investment teams at TD Global Investment Solutions (TDGIS) referred to energy prices as the primary source of potential risk to global markets. West Texas Intermediate (WTI) oil prices have risen approximately 50% since the conflict broke out, with WTI oil trading around $100 at time of writing on March 9. The Strait of Hormuz remains effectively closed and shipping disruptions persist. Storage capacity constraints are emerging in several Gulf states, increasing the risk that energy production may be forced offline if bottlenecks persist.

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