Key Factor of Iran War is Plunging World Economy Into Unprecedented Energy Crisis, Analyst Says

Source: International Business Times

The Strait of Hormuz is critical for oil and gas exports. Bloomberg Experts are warning that the world is headed for an unprecedented energy crisis and higher gas prices due to the Iran war and threats to shipping in the Strait of Hormuz. The Strait of Hormuz is a narrow area that connects the Persian Gulf and the Gulf of Oman along Iran's southern coast.