Israel-Iran war throws oil market into biggest crisis in decades, says Ron Bousso

Global energy markets face one of their gravest shocks in decades as joint U.S. and Israeli strikes on Iran and Tehran’s retaliatory missile attacks across the Gulf disrupt oil exports from the world’s most important producing region.

The scale of the disruption will likely be determined by the duration of the conflict, but for now the threat and the uncertainty are already enough to severely impact flows from the region that accounts for 20% of global oil supplies.