Reuters: War Fuels Global Energy Crisis

The war in the Middle East has triggered a severe global energy crisis, with oil and natural gas prices soaring. The closure of the Strait of Hormuz has halted the passage of 20% of the world's oil and liquefied natural gas, while attacks on energy infrastructure in the Middle East have caused significant damage. The International Energy Agency describes the situation as the worst global energy crisis in history, surpassing even the 1973 Arab oil embargo. Rising energy prices are fueling inflation and have significant political implications, while Trump criticizes NATO allies for their lack of support.