Middle East War Squeezes Global Economies

0:00On March 30, the war in the Middle East is hitting economies worldwide, mainly through the straight-of-for-mooze chokehold that spiking oil prices passed, a hundred dollar per barrel, and disrupting a fifth of global crude and gas flows. Egypt's feeling the burn hard, with their monthly energy bill jumping from 420 million pounds to 1.25 billion for the barrel. Same amount, so they're shutting shops, malls, and restaurants by 9 p.m. on weekdays and 10 p.m. on weekends for at least a month to save power. Meanwhile, Australia's Prime Minister have the 52 cent per liter fuel tax for three months at a cost of 1.75 billion dollars. To ease Pompeian amid shortages and panic buying, while some states may public transport free. Across Asia, nations are rationing too. Sri Lanka's on a four-day work week, Myanmar limits private cars to odd even days, and South Korea's eyeing. Banditory weekly vehicle bans for private drivers if prices top $120 per barrel.

1:04G7 finance chiefs met in Paris to track the fallout on energy, markets, and inflation, as Trump ramps up threats against Iran's grid and oil sites. Unless the straight reopens, leaving everyone bracing for more twists in this global squeeze.