Middle East conflict causes historic oil supply disruption
pre-market1 source ↓written by the desknot a recommendation
- as global supply
- $100 per barrel
The ongoing war in Iran has triggered the largest supply disruption in history for oil markets, according to the International Energy Agency (IEA). The blockade of the Strait of Hormuz has led to oil prices surpassing $100 per barrel as global supply concerns mount. The IEA's response includes the largest release of government reserves ever to stabilize the market.
Not investment advice. For informational purposes only.