As the Iran war drags on, global oil markets will likely see a rocky road ahead and may never get back to “normal”, says an academic. PERTH: The fallout from war between the United States, Israel and Iran has dominated global oil markets. And not just because the Strait of Hormuz, which normally carries about 20 per cent of global oil and gas, remains effectively closed to shipping traffic. Deep uncertainty about how long the disruption will continue has added a persistent “risk premium” – an