Iran War and Oil Prices: Why the World Is Paying the Cost of a War It Did Not Choose

Black smoke rises over oil tankers near the Strait of Hormuz as US-Iran war escalates in 2026

The Iran war has crossed from a regional military conflict into a full-scale global economic emergency. Brent crude oil prices have surged past $107 a barrel, the Strait of Hormuz remains a flashpoint, and ordinary people from Tokyo to Karachi are already paying more  for fuel, food, and even printer ink. This is not just a war between nations. This is a war on the global economy.  Background: How the US-Iran War Began The US-Iran war formally escalated on February 28, 2026, when a US and Israel-led military campaign targeted…

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