Showing posts with label global oil market. Show all posts
Showing posts with label global oil market. Show all posts

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.