Oil Soars Past $120 as Strait of Hormuz Disruption Deepens Global Economic Strain
Energy analysts warn that prolonged instability in the region could trigger sustained inflation, particularly in import dependent economies. Shipping insurers have already raised premiums, while several major carriers are rerouting vessels to avoid potential flashpoints. Financial markets reacted swiftly with energy stocks climbing as broader indic
es showed volatility. Governments across Europe and Asia are reportedly assessing emergency reserves to cushion potential shortages. With nearly a fifth of global oil supply passing through the strait, any extended disruption risks cascading effects across transportation, manufacturing and consumer prices intensifying pressure on an already fragile global economy. Source: The Guardian
