Fossil fuel importers faced a $330 billion cost surge due to US-Iran tensions. Crude oil reaching a new all-time high by December 31 at 11.5% YES.

Six months into the US-Israel campaign against Iran, Brent crude is up 25%, importers face $330B in extra costs, and the renewable energy pivot

The Iran war added an estimated $330 billion to global oil, fuel and LNG import bills between March and August, with crude accounting for nearly half the increase.