New problems in the Middle East are making energy supplies difficult. The United States, Israel, and Iran are having disagreements. This is causing big worries for oil and gas around the world. Some people say it could be as bad as a big oil problem in 1973. Markets are very busy because of fighting. The Strait of Hormuz is very important for ships.
This problem started three weeks ago. Attacks hit Iran's energy places. This started more fighting. The Strait of Hormuz is a key waterway. About 20% of world oil and gas pass through it. Mines were put in the water. This will take time to clear. Iran's energy places were also hurt. Buildings in Kharg Island and Isfahan were damaged.
Global energy markets are already feeling this. Oil prices are changing a lot. Prices went up quickly. But they are also moving up and down. This is because people are not sure about supplies. The International Energy Agency is watching carefully.
The fighting is not just in Iran. It is also affecting nearby countries. Qatar's important gas plant is affected. Ships might not be able to use the Bab al-Mandab strait. A drone attack in Dubai also happened. These things hurt trade. Shipping and food prices can go up.
The economic problems are large. Experts think prices will rise. People will use less energy. About 400 million barrels of oil might not be available. This is already causing higher prices. This energy problem will make inflation worse. Countries that import energy will have more trouble.