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Iran war disrupts global oil supplies, causing fuel shortages and sustained high prices.

Market News
28 Mar 2026
CNBC
View Source
Bearish
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Top oil executives warn that the Iran war has severely disrupted oil and gas supplies, with the closure of the Strait of Hormuz blocking 8-10 million barrels of oil daily and 20% of the LNG market. This disruption is causing fuel shortages in Asia and is expected to hit Europe by April, pushing prices to remain high even if the conflict ends. The war's economic impact could ripple globally, threatening Gulf Arab economies and supply chains. Experts predict the conflict may escalate, prolonging market instability and supply challenges.

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