U.S. and Israeli strikes against the Iranian regime and military threaten
U.S. and Israeli strikes against the Iranian regime and military threaten to upend the global oil market and send shock waves through the world economy.
The government of Qatar, one of the world’s biggest exporters of liquefied natural gas, urged shipowners to suspend maritime activities. Dozens of tankers diverted from the Persian Gulf in the early hours of the conflict. The U.S. Navy advised tanker companies to avoid nearby waters because it couldn’t guarantee their safety, according to an alert from an industry body.
President Trump said the U.S. had launched a major combat operation, with far broader objectives than strikes last year that targeted Iranian nuclear sites. The attacks risk sparking a wider regional war and greater economic disruption than the earlier conflict. Iran responded swiftly on Saturday, sending a barrage of missiles at Israel and U.S. military bases throughout the region.
“Implications of this war could be wide because oil is a feedstock for so much of the global economy,” said Edward Fishman , director of the Center for Geoeconomic Studies at the Council on Foreign Relations. “You could see knock-on effects for monetary policy and inflation.”
Oil traders and brokers scrambled to assess
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