"The United States and Israel's war on Iran has caused the largest energy supply shock in decades. The Strait of Hormuz is in effect closed, and attacks are being carried out on energy facilities in the Middle East, rattling oil markets."
"From Americans filling their tanks at the pump to European factories and Asian economies, the impact is already being felt. US President Donald Trump says the rise in oil prices is a very small price to pay for safety and peace."
"Investors warn that if the conflict drags on, there's danger of stagflation."
The US-Israel conflict with Iran has triggered the largest energy supply shock in decades, effectively closing the Strait of Hormuz and prompting attacks on Middle Eastern energy facilities. Oil price volatility is affecting consumers globally, from American gas pump prices to European manufacturing and Asian economies. President Trump characterizes rising oil prices as an acceptable cost for safety and peace. However, investors express concern that prolonged conflict could trigger stagflation, combining economic stagnation with inflation and creating significant financial risks across multiple sectors and regions.
Read at www.aljazeera.com
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