According to an analysis by the Congressional Research Service, Brent crude oil has experienced its highest monthly price surge on record following Iran's announcement to close the Strait of Hormuz and unsuccessful ceasefire negotiations. This report highlights the war's economic repercussions, including the most significant supply disruption ever seen in the global oil market, impacting various sectors such as natural gas, fertilizer, aviation, and tourism. Experts indicate that the extent of this disruption reveals how quickly a regional conflict can affect global markets.
