💨 Abstract

Saudi Arabia has warned of "catastrophic consequences" for global oil markets as Iran's actions in the Strait of Hormuz disrupt oil shipments. Iran has targeted Gulf Arab oil fields and refineries, aiming to pressure the U.S. and Israel. The CEO of Saudi Aramco, Amin Nasser, highlighted the severity of the crisis, noting that it is the largest disruption the region's oil industry has faced.

Courtesy: Sarah Hooper