Global economy reels from energy shock

The closure of the Strait of Hormuz has sent shockwaves through the global financial system, leading to unprecedented spikes in the cost of crude oil and liquefied natural gas.

Major economies, including China and India, are scrambling to secure alternative energy sources, while smaller nations like Sri Lanka face acute fuel shortages and rationing.

In Europe, airports are already restricting jet fuel supplies, and logistics firms warn of a massive inflationary surge in the cost of transported goods.

Economic experts suggest that even a swift end to hostilities may not immediately reverse the structural damage done to global supply chains and energy security.