USA Shock Move - Joe Blogs

[TexasTowelie]

In today’s video, we look at the continuing and escalating impact of the war in Iran on the global economy… and one of the most significant developments so far.

For the first time since 1979, the United States has issued a waiver allowing Iranian oil to be sold into global markets. This extraordinary move highlights just how serious the current energy situation has become.

At the same time, the conflict itself is intensifying.

Missile and drone attacks between Israel and Iran are continuing to increase, while Israel has ramped up strikes on Beirut, targeting Hezbollah. As the war moves into its fourth week, markets are beginning to realize this may not be a short-lived conflict.

And the economic consequences are already being felt.

Oil prices have surged above $100 per barrel, gas prices are rising sharply, and the Strait of Hormuz — a key route for around 20% of global oil and gas supply — remains effectively closed to normal shipping.

This is now feeding directly into higher energy costs, rising inflation, and increasing risks to global economic growth.

In this video, we break down:
• Why the US has allowed Iranian oil back into the market
• What’s happening in Iran, Israel and Lebanon
• The impact of rising oil and gas prices
• Why the Strait of Hormuz is so critical
• The growing risks to the global economy in 2026