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Originally published by Citizen DigitalMarch 17, 2026
1h ago
Middle East war: How global economic fallout is unfolding
Traffic in the Gulf waterway through which a fifth of global crude oil passes has been severely disrupted by the war...
✨ Key Highlights
Economic fallout from the Middle East war is intensifying as oil prices surge and key transit routes are disrupted. Drone strikes and attacks on oil facilities in the UAE and Iraq have heightened market concerns.
- Oil prices are pushing higher, with Brent crude reaching $102.84 per barrel and WTI at $95.77.
- The International Energy Agency (IEA), whose chief executive is Fatih Birol, is considering further releases of strategic oil stocks.
- A Pakistani oil tanker transited the Strait of Hormuz, the first non-Iranian vessel to do so since the conflict began, while the UAE's ADNOC has suspended oil loading at its Fujairah terminal.
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