Global energy markets are bracing for turbulence this week after coordinated US-Israeli military strikes against Iranian targets sent shockwaves through the oil industry. With Brent crude prices already up 8% since March 1, analysts warn the conflict could push prices to $150/barrel – levels not seen since the 2020s.
The biggest fear? A potential closure of the Strait of Hormuz, where 20% of the world's oil passes daily. 🌊⚡ 'If Iran blocks this chokepoint, we're looking at immediate 15% global supply cuts,' energy analyst Dr. Fatima Al-Mansoori told CGTN's Lincoln Humphries.
Key impacts for 2026:
🛢️ Asian refiners scrambling for alternative suppliers
📈 Gasoline prices predicted to hit record highs by April
⚡ Renewed focus on green energy transitions
While Saudi Arabia and UAE have pledged to increase production, logistics bottlenecks could delay relief. The situation remains fluid – follow @NewspaperAmigo for real-time updates.
