Competition over natural resources has figured prominently among explanations of armed conflicts, from Malthusian fears of population growth and land scarcity to national security interests over resources defined as “strategic” because of their industrial or military use, such as oil and uranium. Access to natural resources and the transformation of nature into tradable commodities are deeply political processes, in which military force can play a role of domination or resistance. Armed separatism within Indonesia and Nigeria, annexation attempts on Kuwait and the Democratic Republic of the Congo, protracted civil wars in Angola and the Philippines, and coups d’état in Iran and Venezuela have all incorporated important resource dimensions. Arguably, the radical Islamic terrorism that has affected the United States since the early 1990s is to some extent an oil-related “blowback”: U.S. military deployment in Saudi Arabia, criticisms against the corruption of the Gulf regimes, and ironically, part of the funding made available to terrorist groups. This chapter examines relations between resources and armed conflicts, with a focus on commodities legally traded on international markets (thereby excluding drugs, as well as water and land involved, for example, in the Israeli-Palestinian conflict) and on extracted resources such as oil, minerals, and timber, in particular. Beyond a simple reading of so-called resource wars as violent modes of competitive behavior, this chapter argues that resource exploitation and the resource dependence of many producing countries play a role in shaping incentives and opportunities of uneven development, misgovernance, coercive rule, insurrection, and foreign interference. This relationship, however, is not systematic: history, political culture, institutions, and regional neighborhoods, as well as a country’s place in the international economy, all play a part these relations. The incorporation of resources into an armed conflict has also specific implications upon its course through their influence on the motivations, strategies, and capabilities of belligerents. Military targets often consist of commercial business opportunities rather than political targets, while the cost of engaging adversaries may be calculated in terms of financial reward.