Commodity Price Watch: March 2026

Markit3.72K FollowersFollow5ShareSavePlay(7min)CommentsSummaryThe outbreak of the war in the Middle East at the end of February and beginning of March turned a relatively sedate 2026 outlook into one fraught with uncertainty.War in the Middle East sent oil prices soaring. The eventual price trajectory will depend on the length of time that little to no traffic passes the Strait of Hormuz.Price rises across petrochemicals in the first half of 2026 will be broad, mirroring crude oil and natural gas increases.Steel prices are higher in the US and Europe while little changed in most of Asia.Prices for aluminum and copper have been revised up through the middle of 2026 because of the ongoing war in the Middle East. Luis Alvarez/DigitalVision via Getty Images What is the overall trend in commodity prices? The outbreak of the war in the Middle East at the end of February and beginning of March turned a relatively sedate 2026 outlook into oneThis article was written byMarkit3.72K FollowersFollowIHS Markit (Nasdaq: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 key business and government customers, including 80 percent of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.