Anonymous25 days ago
The assassination of Iran's Supreme Leader Ali Khamenei in joint US-Israeli airstrikes on February 28 triggered the worst oil supply disruption in modern history, with crude surging past $110 a barrel as the Strait of Hormuz — the chokepoint for 20% of the world's oil — was effectively shut down. The selection of Mojtaba Khamenei, the late leader's hardline son with deep IRGC ties, as Iran's new Supreme Leader on March 8 dashed any hopes of de-escalation, sending global stock markets into freefall and raising the specter of a worldwide recession fueled by an energy crisis with no diplomatic off-ramp in sight.