War in Iran Erases 4 Days of Global Fuel Supply, Triggers 50% Price Surge

• Ongoing conflict in West Asia severely impacts global energy system, disrupting supplies and raising prices.
• Closure of the Strait of Hormuz on March 2 disrupted 20% of global oil and liquefied natural gas flows.
• Strikes by Iran and Israel damaged energy infrastructure, with repairs potentially taking years.
• Market panic wiped out 400 million barrels (four days of global supply), pushing prices up by nearly 50%.
• Crisis surpasses 1973 Arab oil embargo, leading to global fuel cost spikes and government actions like rationing and reduced energy use.