As Israel and Iran exchange missile strikes, global markets are rattled. Oil prices surged over $100 per barrel, with fears of supply disruptions through the Strait of Hormuz—a route for one-fifth of the world's oil. Stock markets have turned volatile, and investors are fleeing to gold and the U.S. dollar. Supporters of the “crisis” view warn that continued escalation could lead to energy shortages, inflation spikes, and supply chain breakdowns, especially in Europe and Asia. They point to how war in the Middle East often ripples through global finance. Opponents argue that the current global economy is more resilient than in past decades. Countries have diversified energy sources, and institutions like the Fed and ECB are equipped to buffer economic shocks. Unless the war drags on or widens, they see disruption, not disaster. So—does this conflict mark the start of a global crisis, or just a temporary storm in a volatile world?

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Economy