""The Iran war has caused the gravest energy shock of all time, the head of the International Energy Agency warned, it could take six months or longer to fully restore oil and gas flows from the Gulf.""
""I don't get any sense that inflation is decelerating," said Mark Zandi, chief economist at Moody's. "It feels like it's uncomfortably and persistently high.""
""This week was interspersed with a very bad inflation print in the U.S. that had nothing to do with the oil shock from Trump and Israel's war on Iran which began on February 28th.""
The Iran war has led to the most severe energy shock ever, with potential delays in restoring oil and gas flows from the Gulf. Inflationary pressures are rising, exacerbated by a recent U.S. inflation report showing a 12-month Producer Price Index increase of 3.4%. Experts indicate that inflation remains persistently high, complicating the economic landscape. The situation reflects a critical moment in global markets, as the implications of the energy crisis unfold amid ongoing geopolitical tensions.
Read at Jezebel
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