Brent crude tops $100 as the Iran war disrupts Strait of Hormuz oil flows. G7 releases 400M barrels from reserves ahead of peak travel season demand.

Brent crude tops $100 as the Iran war disrupts Strait of Hormuz oil flows. G7 releases 400M barrels from reserves ahead of peak travel season demand.

The Iran war has pushed Brent crude to $83/barrel, sending Europe toward stagflation as eurozone PMI contracts and crypto markets feel the ripple effects.

What happens in the Strait of Hormuz does not stay in the Strait of Hormuz. The US-Iran war may be centred in the Middle East, but its economic tremors are now rattling wallets…