Anonymous25 days ago
The U.S.-Israel military campaign against Iran has triggered the largest oil supply disruption in history, with the effective closure of the Strait of Hormuz cutting off roughly 20% of global supply and sending crude prices from under $70 to nearly $120 per barrel in barely a week. As G7 nations convene emergency talks to release up to 400 million barrels from strategic reserves, the crisis threatens to unleash stagflation across the global economy, with gasoline prices already surging 14% in a single week and stock markets from Tokyo to New York reeling from the shock.