Axiome Quarterly Q1 2026

Markets delivered mixed performances in the March 2026 quarter. January and most of February were strong, but this was completely up-ended on 27 February when the United States and Israel launched a war on Iran. Oil prices rose dramatically as energy facilities in the Gulf region were attacked by Iran and as traffic in the Straits of Hormuz, which accounts for around 20% of global oil trade, was left high and dry.