Anonymous10 days ago
The closure of the Strait of Hormuz following the outbreak of the U.S.-Israel war with Iran on February 28, 2026, has removed nearly 20% of global oil supply from the market—the largest disruption in oil market history. Brent crude has repeatedly traded above $100 per barrel, peaking at $126, while the IEA authorized a record 400-million-barrel emergency stockpile release. The crisis is reshaping geopolitics, straining consumer budgets worldwide, and may paradoxically accelerate the transition to electric vehicles and renewable energy.