IBEX 35 Falls as Oil Prices Surge Following US Attacks on Iran and Strait of Hormuz Closure

The IBEX 35 index declined as global markets reacted to U.S. attacks on Iran and the closure of the Strait of Hormuz. The geopolitical tension triggered a 4.5% spike in oil prices, according to reports from El Confidencial, leading to a corrective session for the Spanish benchmark index.

Market volatility centered on the energy sector and the Strait of Hormuz. According to El Economista, European markets are testing their first support level as the closure of the Strait of Hormuz weighs on equity valuations.

The downturn in the IBEX 35 reflects a corrective session. Data from El Español indicates that the index is facing a corrective session due to the closure of the Strait of Hormuz.

Oil Price Surge and the Strait of Hormuz Crisis

The primary driver of the current market instability is the rise in crude oil costs. El Confidencial reports that oil prices jumped 4.5% following the attacks by the U.S. on Iran. This price volatility is linked to the closure of the Strait of Hormuz, which El Economista notes has faced a new closure.

Expansión reports that the index “stepped back” specifically because of oil.

The closure of the Strait of Hormuz is a financial risk. When the passage is restricted, it leads to the sell-offs observed in European indices like the IBEX 35.

Impact on the IBEX 35 and European Equity Support

The IBEX 35 is currently experiencing what El Español describes as a “corrective session.”

European markets are particularly vulnerable. El Economista reports that Europe is “playing its first support” level.

Geopolitical Risks and Market Sentiment

The U.S. attacks on Iran have affected the market. According to Finanzas.com, the retreat of the IBEX 35 is a consequence of this “new attack.”

Analysts note the market reaction—specifically the 4.5% jump in oil reported by El Confidencial.

Comparison of Market Reactions

The reporting across Spanish financial outlets shows a consistent narrative of decline, though the focus varies by publication:

• El Confidencial emphasizes the quantitative spike in oil (4.5%) as the catalyst for the drop.
• El Economista focuses on the technical analysis, noting that European markets are testing critical support levels.
• El Español characterizes the movement as a “corrective session.”
• Expansión explicitly links the IBEX 35’s retreat to the volatility of petroleum.

The IBEX 35 remains susceptible to further swings based on the price of oil.