The Iran War has induced an energy crisis. Gas prices are going up seeing as Iran is an oil producing country. Iran had suffered under the economic warfare of sanctions. Now the Islamic Republic is closing the Strait of Hormuz. The assassination of the Supreme Leader makes a peaceful resolution impossible. Europe does not have enough diversification to keep gas and oil prices low. Combined with the conflict in Ukraine, the EU will suffer another energy shock. The situation also becomes more precarious with Gulf monarchies are being attacked. Those countries that have US bases are being hit with missiles and drones. Qatar and Saudi Arabia might not be able to produce as much needed for the global market. The US struggles with inflation and rising prices. Some speculate that the war on Venezuela was a means to obtain an extra reserve of oil, so when Iran was invaded it would not have an economic effect. Gas prices and higher energy prices are going to effect the midterm election in the United States. If Israel and the US continue to seek regime change, an energy crisis could reach the condition of the 1970s. At the moment oil prices have gone up 10%. Kuwait and Iraq are having difficulty keeping their oil terminals operational. Air strikes and drones make it unsafe to work. Asia is facing the strain of the war. Vietnam and Indonesia are reliant on imported fuel. Other South and Southeast Asian nations are experiencing an energy crisis. Access to liquified natural gas is also hindered with the Strait of Hormuz being closed. Business might not be able to survive and workers employment could be terminated. A energy crisis could push the world into economic decline. Even if there was a ceasefire or peace settlement, energy prices would not immediately lower.




