Much Worse - Joe Blogs

[TexasTowelie]

The war in Iran is escalating and the economic consequences are now spreading rapidly across the global economy.

Multiple oil tankers have been attacked in the Gulf and the Strait of Hormuz, drone strikes have hit fuel storage facilities in Oman, and ships are now being ordered to leave ports in the region as the security situation deteriorates.

Oil prices have surged back above $100 per barrel, with some regional crude prices spiking even higher as markets fear disruption to one of the most important oil shipping routes in the world.

Financial markets are reacting sharply. Stock markets are falling and global bond yields are rising as investors worry that higher oil prices could push inflation higher and slow economic growth.

There are also growing geopolitical implications. Ukraine has warned that higher oil prices could boost Russia’s revenues and strengthen its ability to finance the war in Ukraine.

At the same time Iran has said any ceasefire would require binding guarantees that the United States and Israel will never attack Iran again — a demand that makes a peace deal extremely unlikely.

And there are also growing questions surrounding Iran’s newly announced Supreme Leader, who has not appeared publicly since being named.

In this update we examine the latest escalation in the conflict and what it could mean for global markets and the world economy.

[Irish_Dem]

1. Putin directly benefits from Trump's invasion of Iran.

Russia's economy has been in real trouble and Trump gave Putin a huge boost.
Which could turn the tide in his invasion of Ukraine.