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Browsing: oil supply
Oil prices have dropped sharply, falling below pre-Iran-Israel conflict levels. Market dynamics and easing geopolitical tensions have driven this unexpected decline, impacting global energy markets and economic forecasts.
Tensions between Iran and Israel risk disrupting Middle Eastern oil supplies, potentially driving global prices higher. Experts warn that prolonged conflict could tighten markets and fuel energy cost volatility worldwide.
Iran orders closure of Strait of Hormuz — putting one-fifth of world’s oil supply at risk – New York Post
By NR STAFF
Iran has ordered the closure of the Strait of Hormuz, a vital chokepoint through which one-fifth of the world’s oil supply passes, escalating tensions and raising concerns over global energy security.