Middle East Crisis Halts Global Trade: Oil & Gas Prices Soar, Recession Looms?

• Middle East tensions in Strait of Hormuz and Red Sea have turned crucial sea routes into battlefields.
• Iran's IRGC blocks 20% of world's oil supply in Hormuz; Houthi rebels disrupt global supply chain in Red Sea.
• Changing ship routes are causing transportation and crude oil prices to skyrocket globally.
• Asian economies like India, China, Japan, and South Korea face severe economic impact.
• Concerns rise over potential doubling of petrol, diesel, and gas prices, hinting at a terrible economic recession.