BlockBeats news, April 2, according to CNBC analysis: as President Trump is expected to deliver a speech framing the Iran war as a “victory wrap-up,” the energy market is already under significant strain. U.S. gasoline prices have risen above $4 per gallon, and international oil prices have increased by about 27% since the outbreak of the conflict.
Driven by disruptions to shipping through the Strait of Hormuz, the global energy supply has tightened, with aviation fuel prices surging by nearly 96% and Asian LNG prices rising by about 43%. Analysts warn that if supply interruptions continue, oil prices may move closer to—or even break—historical highs.
Historians note that the current situation carries similar risks to the energy crisis of the 1970s, and that inflation and energy shocks could have long-term impacts on the U.S. economy and politics. Although the United States is buffering the shock by releasing strategic reserves, global inventories are being depleted rapidly, and energy tensions are still intensifying.
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