The U.S war in Iran has been ongoing for three weeks. The conflict has had huge consequences on the world economy, and oil prices have skyrocketed. Only a few ships are running through the Strait of Hormuz – and now, several countries are in danger of running out of oil. Here’s the entire list:
The conflict in Iran is hurting the world economy, and several countries are in the crossfire, not least because of the oil shortage.
Iran has announced they have closed the Strait of Hormuz, through which around 20% of the world’s oil passes, the BBC reports.
The war in Iran has led to reduced sea traffic, and global oil prices have skyrocketed. There are only a few ships running through the shipping lane.
A recent report has raised the alarm that some countries are risking running out of oil as the war rages on. Before the war, around 40 tankers carrying 20 million barrels of crude oil passed through the Strait of Hormuz daily. Now, it’s not even close.
The new report from Societe Generale (SocGen), which Forbes has reported on, suggests several countries are close to running out of oil.
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