world π₯ US-Iran war widens, oil routes get risky
Tensions are escalating in the Middle East as the US-Iran war approaches its seventh month. The conflict involves the US, Iran, Saudi Arabia, and Houthis, disrupting crucial oil shipping waterways. Oil exports from Saudi Arabia dropped last month to their lowest level in over 13 years. Increased threats mean key corridors like the Strait of Hormuz are now high-risk for shipping companies. This situation raises major fears of a global energy crisis unless diplomacy solves the waterways' instability. β½