Iran War News | Hormuz Choked, Oil Spikes: War Hits Global Energy Lifelines

The escalating conflict in West Asia is triggering a full-blown global energy shock, with key oil and gas infrastructure increasingly coming under direct attack. Strikes on Israel’s Haifa refinery and Qatar’s major LNG facilities have disrupted significant portions of global energy supply, with long-term repair timelines raising fears of a prolonged crunch. At the heart of the crisis lies the Strait of Hormuz, a critical chokepoint for nearly 20% of the world’s oil, where disruptions are redrawing shipping routes, slashing vessel traffic, and driving up costs. Global markets are already reacting, with oil prices spiking and fuel costs rising sharply across countries. As energy corridors become primary targets rather than collateral damage, the ripple effects are spreading worldwide, impacting supply chains, inflation, and economic stability. With no clear de-escalation in sight, the conflict is increasingly shaping into a battle that could redefine global energy security.