Energy markets around the globe are reeling from a massive surge in fuel prices, driven by the escalating conflict involving the United States, Israel, and Iran.
The ongoing warfare has caused severe logistical bottlenecks in the Strait of Hormuz—one of the world's most critical maritime chokepoints for crude oil transit. As disruptions continue to plague this vital shipping route, international consumers and markets are bracing for the severe economic fallout of prolonged, skyrocketing energy costs.