How Iran War Is Disrupting Global Oil and Gas Supply: Explainer

Oil and gas markets have been rocked by disruption to supply out of the Persian Gulf. Prices of both commodities have jumped as the US and Israel continue to strike Iran, and the Islamic Republic retaliates with missiles and drones across the Middle East.

Oil prices topped $100 a barrel for the first time since 2022, when they spiked in the aftermath of Russia’s full-scale invasion of Ukraine. A sustained increase in energy costs could trigger a surge in inflation and squeeze economic growth, raising fears of stagflation.

Major energy infrastructure has been caught in the cross-hairs of the ...