Saturday, July 25, 2026

This Iran War Escalation Could Crash the Global Oil Market

Jul 25, 2026 | The US war against Iran is expanding into a larger regional conflict. After Trump sabotaged a diplomatic agreement, Tehran closed the Strait of Hormuz. Now Yemen's Ansar Allah (known commonly as the Houthis) has declared a naval blockade of Saudi Arabia, shutting down oil exports in the Red Sea. Ben Norton explains how this escalation could cause a severe crisis in the global oil market.