What Comes After the Smoke Clears? 5 Possible Outcomes of the Middle East War
Some are calling this the most severe oil crisis since the 1970s. Gas stations in Thailand and Vietnam have run out of fuel, forcing people to work from home. Chip factories in South Korea are worried about helium shortages. Japan has begun negotiating oil purchases from Alaska. Food aid agencies in Africa are concerned about where to find grain if the war continues for another three months.
These events highlight the widespread and chaotic global impact of the ongoing Middle East conflict. Since the war began, the Strait of Hormuz has effectively shut down, suspending nearly 20% of the world's crude oil and liquefied natural gas (LNG) supply. Oil prices surged 40% from pre-war levels, exceeding $110 per barrel, with Iran publicly aiming to push it to $200. Additionally, an attack on Qatar’s Ras Laffan LNG facility—which accounts for 20% of global LNG trade—could take years to restore to full capacity.
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