Anonymous4 days ago
Five weeks into the U.S.-Israeli military campaign against Iran, the closure of the Strait of Hormuz has removed roughly 20% of global oil supply from the market — the largest energy disruption in history — pushing Brent crude above $115 per barrel. The price spike is straining households worldwide, generating tens of billions in windfall profits for oil producers, complicating central bank rate-cutting plans, and triggering financial market stress from margin calls to sovereign debt concerns, though structural changes since the 1970s may limit the ultimate economic damage.