March 8, 2026

Market reacts as Trump’s attack on Iran sparks oil price crisis

Business

Former White House energy advisor Bob McNally warns of an "authentic crisis" following Trump's Iran attack, predicting significant oil price increases. The closure of the Strait of Hormuz has led to the largest oil disruption in history, impacting global energy costs. McNally emphasizes the urgent need to restore freedom of navigation to avoid further economic repercussions.

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