The claim is strongly supported by multiple news reports from early March 2026. Brent crude oil did surge past $85/barrel (confirmed by Times of India and NBC Right Now) due to the US-Israel-Iran conflict. Global stock markets, particularly in South Korea (down 8%), Japan (down 6%), and Europe (down 4-5%), recorded steep losses as reported by The Economic Times. The role of Donald Trump's political and military remarks/actions is also documented by CNBC and NPR during this specific timeframe.