Economic panic: Oil prices soar due to fears of the Hormuz blockade

The first casualty of the war is economic stability. The conflict has set off alarm bells in global markets, sending oil prices soaring and jeopardizing the planet's most important energy artery: the Strait of Hormuz .

The war between Israel and Iran is not only being fought with missiles, but also on the screens of financial markets. The escalation has sent an immediate shockwave through the global economy, triggering a panic reaction that has sent oil prices soaring and threatens to raise the price of everything from fuel for your car to food at the supermarket.

As soon as the attacks were confirmed, commodity markets reacted with panic. The price of Brent crude , the international benchmark, soared more than 7%, surpassing $74 per barrel and reaching peaks not seen in months. This dizzying jump is a direct consequence of fears that the conflict could disrupt supplies from Iran, a key OPEC producer, and destabilize the entire producing region.

Stock markets also felt the blow, with significant declines on Wall Street and in Asian and European markets, as investors fled in search of safe haven assets like gold.

All economic attention is now focused on a narrow maritime chokepoint: the Strait of Hormuz. This waterway, which Iran could threaten to close, is the planet's most critical artery for oil.

Although tanker traffic continues, it does so with extreme caution and under maritime security warnings. The possibility that Iran, in an act of desperation, might attempt to militarize or block this passage is a "black swan" scenario that could trigger a global oil shock and plunge the world into recession.

The crisis has unleashed a secondary economic war. The International Energy Agency (IEA) , which represents consumer countries, attempted to calm nerves by announcing its readiness to release its vast strategic reserves and stabilize supply.

However, this statement enraged OPEC. The cartel of oil-producing countries accused the IEA of "creating false alarms" and generating more volatility, clearly defending higher prices that benefit its members. This clash reveals a power struggle for control of the market narrative: consumers want low prices and stability, while producers benefit from uncertainty.