Iran war triggers global energy crisis

The energy crisis is hitting developing nations particularly hard, with Pakistan and the Philippines reporting unprecedented fuel price hikes and transportation disruptions.

Major airlines like United have increased baggage fees to offset rising jet fuel costs, while shipping companies scramble for alternative routes.

President Trump has suggested that with more time, the US could 'take the oil' and make a fortune, despite the humanitarian toll of the conflict.

Analysts warn that if the Strait remains closed, the economic shock could lead to widespread fuel rationing in Europe and Asia.