Episode Details

Tensions in the Middle East escalate as Iran retaliates against U.S. and Israeli strikes, targeting oil refineries and gas plants in multiple countries and shutting down the Strait of Hormuz. Energy prices surge globally, with Brent crude reaching $83 per barrel and natural gas in Europe hitting $54 per megawatt-hour. Asia, reliant on Gulf oil, and Europe, facing disrupted diesel flows, are particularly affected. The U.S. may see increased pump prices, potentially impacting midterm elections, as officials anticipate prolonged disruptions and prices potentially surpassing $100 per barrel.

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