Why oil still rules the world?
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The Middle East war proves oil remains a powerful weapon, with 20% of global supply coming from the Persian Gulf.
Consumption has almost doubled since 1973, so disruptions hit harder than ever.
The IEA released 400M barrels, bigger than most conflicts, but it only frees stuck oil, not new production.
Prices spike, inflation rises, and growth slows worldwide.
Source NY Times