BlockBeats News, March 23: The Middle East situation continues to escalate, with Trump issuing a 48-hour ultimatum to Iran, demanding “unconditional access” to the Strait of Hormuz. Otherwise, key infrastructure such as its power plants will be targeted. Iran responded by stating that if attacked, it would “completely shut down” this global energy artery and expand its targets to include energy, information technology, and desalination facilities.
The conflict has entered its fourth week, with about one-fifth of the world’s oil and gas shipments disrupted, causing a significant surge in energy prices. The market is concerned that supply chain disruptions will further fuel inflation and impact the global economy, with ongoing spillover of geopolitical risks.
