Hormuz Squeeze Sends Oil Soaring

Global oil markets are reeling after Iran restricted shipping through the Strait of Hormuz, slashing more than 10% from world oil supply and pushing prices up by $40 a barrel. Americans are already feeling the pain at the pump, with national gas prices topping $4 a gallon and the auto market bracing for a sharp drop in sales through 2027. But with President Trump offering tough talk instead of a clear plan, and the Security Council deadlocked, there’s no end in sight — and the risk premium is here to stay.

But here’s the catch: the fallout goes far beyond gasoline. Bombed LNG facilities in Qatar are about to make everything from plastics to fast food utensils more expensive, while producers in Texas insist it’s business as usual — even as new refineries won’t come online for years. Meanwhile, cyber threats against U.S. energy infrastructure are mounting, with warnings about drone attacks and grid vulnerabilities. And as Israel demands maximum pressure on Iran’s nuclear program and humanitarian crises worsen in Lebanon, the legitimacy of the war — and of the coalition backing it — grows shakier by the week.

Featuring reporting and analysis from AZ Family, Bloomberg.com, CNBC, CSIS, Spectrum News, The Guardian, and INSS.

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