Rising Oil Prices and Supply Gaps Increase Recession Risks
Sustained oil prices above $100 a barrel are increasing global recession risks. Supply gaps now impact Indian factories and U.S. consumer spending levels.
Xurve View
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Xurve View
The conflict between the United States and Iran has triggered a significant oil shock, raising the specter of a global recession as energy supplies face unprecedented disruptions. With the war entering its sixth week and nearly 20% of global oil supplies impacted by shipping restrictions in the Strait of Hormuz, the economic consequences are manifesting in factory closures and surging production costs across multiple continents.
