The Iran war and the subsequent closure of the Strait of Hormuz — a key waterway through which about 20% of the global oil trade passed before the conflict — have triggered an oil supply shock on a scale unseen in decades. The crunch has sent countries worldwide scrambling for alternatives to fill »»»

BusinessGlobal issuesIran war: Oil shortages threaten global energy securitySrinivas MazumdaruStrategic petroleum reserves are declining rapidly as countries release emergency crude supplies to cushion the economic impact of the Middle East conflict. https://p.dw.com/p/5EOlKThe IEA has warned that »»»