Is the world facing a new energy crisis due to the US-Israel conflict with Iran?

Disruptions in the Strait of Hormuz, Bab al-Mandeb, and the Black Sea are significantly impacting global oil supplies and raising consumer costs. Shipping through the Strait of Hormuz is currently halted, while tankers are avoiding Bab al-Mandeb due to threats from Yemen’s Houthi forces. These three critical routes collectively affect nearly a quarter of global oil supplies, with Goldman Sachs predicting oil prices could exceed $120 per barrel if the situation continues.

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