"The US-Israel war on Iran has wiped out $50 billion worth of oil production in just 50 days, impacting global energy flows significantly."
"Analysts indicate that the disruption of over 500 million barrels of oil is reshaping energy dynamics, with petrol prices in the US surpassing $4 a gallon."
"The International Energy Agency has stated that this situation represents the largest energy crisis in history, affecting countries differently."
"European factories are facing energy rationing as the supply crunch from the oil disruption is felt across major emerging economies."
The US-Israel war on Iran has led to a significant disruption of over 500 million barrels of oil in just weeks, resulting in petrol prices exceeding $4 a gallon in the United States. European factories are facing energy rationing, and emerging economies are feeling the effects of the supply crunch. The crisis has wiped out $50 billion worth of oil production, comparable to the economies of Estonia and Latvia. The International Energy Agency has declared this the largest energy crisis in history, with unequal burdens across countries.
Read at www.aljazeera.com
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