The Middle East conflict and the closure of Strait of Hormuz led to the biggest oil supply shock and disruption in recent times. Global oil supply fell by 13.6 million barrels per day, which is around 13% of the 2025 global output according to the latest report by Asian Development Bank.

Oil prices surge amid US-Iran tensions. Crude oil reaches a new all-time high by December 31 at 12.5% YES.

The Middle East conflict and the closure of Strait of Hormuz led to the biggest oil supply shock and disruption in recent times. Global oil supply fell by 13.6 million barrels per…

Oil prices surge due to US-Iran tensions and Strait of Hormuz disruptions. Crude oil reaching a new all-time high by December 31 at 13.5% YES.

Renewed US-Iran conflict threatens global oil supply through the Strait of Hormuz, with Brent crude forecasts revised up nearly 30% and analysts warning of