Source: Washington Post
by Morgan Bazilian
“The economic effects of the U.S. war with Iran are often gauged by what the International Energy Agency has called the largest supply disruption in the history of the global oil market. Cumulative losses exceeded 1.3 billion barrels as of June, and this spring prompted a global emergency oil reserve release that was more than double what the agency ordered after Russia invaded Ukraine in 2022. Oil and diesel prices jumped after attacks on a key Saudi Arabian pipeline last week. But the fallout goes far beyond that: The war has caused a commodities crisis running several markets deep — and most of these markets have no reserves to rely on.” (09/18/26)