US–Iran War: Global Oil Market Shock: Brent crude nears $120 amid US–Iran conflict, rattling energy markets worldwide. Strait of Hormuz at Risk: Critical shipping lane disruption threatens one-fifth of global oil supply. G-7 Response: Leaders monitor crisis, delaying emergency oil release but signaling potential intervention. Rising Costs for Consumers: Gasoline and diesel prices surge, fueling … Continue reading US–Iran War Shakes Global Markets as Oil Prices Surge and Strait of Hormuz Crisis Deepens