The World Will Be Hit by the Harshest Energy Crisis

U.S. Air Force airstrikes on three critical facilities of Iran's nuclear program—Fordow, Natanz, and Isfahan—have created risks of Iran closing the Strait of Hormuz, according to analysts at Goldman Sachs. The Iranian parliament has already supported this idea, but the final decision must be made by Iran's National Security Council.

Many vessels have started to either accelerate, stop, or change their routes on the way to the strait. Approximately 30% of global oil and petroleum product demand passes through the Strait of Hormuz. If the strait is blocked for an extended period, it will impact everyone—both buyers and sellers of oil and gas.

The world will be engulfed by the harshest energy crisis, which will spread across all sectors of the economy and evolve into a global economic crisis.