Financial Times: As Summer Peak Nears, Iran's Energy Crisis Enters a New Phase

AI Summary (NQ-processed)

The global energy crisis is entering a new phase, exacerbated by the impending summer energy demand peak in the Northern Hemisphere and export disruptions from the Strait of Hormuz due to the US-Iran conflict. Analysts warn that Brent crude prices could surge to $180 per barrel, triggering high inflation and economic recession. Currently, global daily oil consumption far exceeds production, causing a rapid decline in emergency reserves, with nearly 80 countries implementing emergency measures. The petrochemical and aviation industries are hit hardest, and a global recession may be unavoidable if the conflict persists.