EconomicUnited States·3 Nov 2026
Global economic impact of the Russia-Ukraine and US-Iran conflicts
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The overlap of the ongoing Russia-Ukraine war and the US-Iranian conflict, which began in February, triggered a global energy crisis characterized by the contested Strait of Hormuz and reduced fuel supplies due to Ukrainian drone attacks on Russian refineries. Brent crude prices surged from approximately $70 per barrel to $117 late last month, while the…
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Middle East Eye
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