Middle East war creating 'largest supply disruption in the history of oil markets

[yaesu]

Oil markets are now facing the “largest supply disruption in history” as the war in Iran continues to block tankers from producing and shipping millions of barrels of crude each day, the world energy watchdog has warned.

The International Energy Agency (IEA) said the supply shock ignited by Iran’s effective blockade of the strait of Hormuz meant the world faced a deeper crisis than after the Yom Kippur war of 1973 and the 2022 outbreak of war in Ukraine.

The warning came as Iran issued a statement that was said to be the first from its new supreme leader, Mojtaba Khamenei, to call for the vital trade artery to “remain closed”, in a blow to hopes of a resolution to the crisis.

In response, global oil prices again passed $100 (£75) a barrel on Thursday as widespread Iranian attacks on energy facilities in the Middle East overshadowed a vast release of government reserves.

https://www.theguardian.com/business/2026/mar/12/middle-east-war-creating-largest-supply-disruption-in-the-history-of-oil-markets

And now the Pedo in Chief just said:
tRump claims surging oil prices benefit US as Pentagon reportedly tells lawmakers Iran war cost $11.3bn in first week –
tRump spins the spiking oil prices as a win for the US as defense departments reportedly spends billions on war with Iran

[VMA131Marine]

1. Heating oil in Connecticut is now $5.20/gal

The cost to fill a standard 275 gal tank is $1430

[bucolic_frolic]

2. Indeed.

It's like 1973 again but with mega debt levels public and private and it's like 2009 again with housing and auto debts and the government is $38 Trillion in debt instead of $7 Trillion. Put stagflation, recession, debt, war in the blender and let me know what you come out with.