Why does Iran unrest trigger oil price swings?

A woman burns a portrait of Iran's Supreme Leader, Ayatollah Ali Khamenei after lighting a cigarette during a demonstration in solidarity with Iranian protestors, in Israel's central city of Holon on January 14, 2026. [AFP]

Political instability in Iran, a major oil producer, together with US President Donald Trump's recent threats against the country have reignited fears of disruptions to crude supplies, sparking price volatility on global markets.

AFP explains what's at stake.