Energy prices are rising due to supply disruptions due to the Iran war, increasing risks for the US, China and Europe.
All eyes are on the Strait of Hormuz.
The longer it remains closed, the greater the loss to the global economy.
Iran continues to block tankers carrying about 20 percent of the world’s oil supply from shipping.
This is almost double the disruption the world faced during the energy shocks of the 1970s.
Big oil shocks have historically led to considerable economic turmoil, high inflation, stagnation, and recession.
Oil and gas prices are already rising, and economies are expected to slow.
People around the world are already feeling the effects, from American consumers to Chinese factories and European homes.
Published on 17 March 2026
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