US-Israeli War on Iran Disrupts Global Energy

An escalating war between the United States, Israel, and Iran is causing significant fears of energy supply disruptions globally, particularly concerning the Strait of Hormuz. This conflict has led to a surge in oil prices and a decline in share markets. In response, several governments are implementing emergency measures to protect their economies. South Korea plans to cap domestic fuel prices and seek alternative energy sources, while Japan is preparing to release crude from its national reserves. Vietnam intends to remove fuel import tariffs, and Indonesia will increase fuel subsidies. China has instructed its refiners to halt fuel exports, and Bangladesh is closing universities to conserve electricity and fuel.