Oil prices approach Iran-war highs as soaring tanker rates trigger a second energy squeeze

Oil prices are nearing levels last seen during the Iran-Iraq war, as skyrocketing tanker rates create a second squeeze in global energy supply. This escalation is causing concern as it signals a potential full-scale regional conflict that could disrupt energy markets further. Such a scenario would likely trigger turmoil across financial markets, highlighting the fragile state of global energy dependencies and the critical need for stable supply chains. The situation underscores the broader implications for both economic stability and geopolitical tensions.