Middle East Conflict Disrupts Global Energy Supplies, Worsens Crisis for Developing Nations
A month after Israeli and US airstrikes targeted Iran, the resulting escalation in the Middle East has sharply curtailed shipping traffic through the Strait of Hormuz, a vital chokepoint for global oil supplies. The slowdown in tanker movements has rippled outward to disrupt shipments of natural gas, coal, food, and fertilizers as well. This disruption has hit least-developed countries in Africa and South Asia the hardest, putting intense pressure on economies that rely heavily on imported liquid fuels and agricultural inputs. Energy prices, including Brent Crude oil, remain elevated above $100 per barrel, straining household budgets and leading to widespread... [Continue Reading]
360LiveNews | 01 Apr 2026 18:15
Brent crude oil prices rise 51% since March, reaching $112.57 a barrel amid ongoing Iran conflict disruptions
Brent crude oil prices are witnessing unprecedented levels of escalation, on track for the highest monthly gain in history due to ongoing disruptions caused by the war involving Iran. As the conflict intensifies, Brent crude has jumped by 51% since the start of March, reaching $112.57 a barrel by the end of the last trading session on Friday. This surge has marked a significant increase from $72.48 on February 27, just before the commencement of military actions linked to the US-Israeli war against Iran, with prices even peaking at $119.50 during March, the highest point since mid-2022. The volatility in... [Continue Reading]
