Oil Prices Soar Past $100 | Will Iran War Trigger Another 1970s-like Oil Shock? | NewsX
Автор: NewsX Live
Загружено: 2026-03-09
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Global crude prices have surged past $100 per barrel as the escalating Iran war disrupts oil production and tanker routes across the Middle East. Brent crude briefly spiked above $119, the highest level since 2022, amid fears that conflict around the Strait of Hormuz—a chokepoint carrying nearly 20% of the world’s oil supply—could worsen the supply shock. Several Gulf producers have already reduced output while shipping risks grow, raising concerns that the world could face an energy crisis similar to the 1970s oil shocks that triggered inflation and economic turmoil worldwide.
#OilPrices #IranWar #EnergyCrisis #StraitOfHormuz #GlobalOil #OilShock #MiddleEast #NewsX
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