US-Iran War disrupts Gulf oil exports, spiking prices to $80+ per barrel[1]
The United States launched a major military operation against Iran days ago, marking the largest such action since the 2003 Iraq invasion. The operation has removed approximately 20 million barrels per day from global crude markets, primarily through the threat of Strait of Hormuz closure. Iran has responded with threats to mine the Strait, escalating concerns beyond initial insurance-driven market withdrawals.