US-Israel Strikes on Iran: Global Energy Crisis Escalates

The United States and Israel are launching military strikes against Iran, causing turmoil not just in Iran but also in Lebanon and other Gulf states. This conflict is triggering a global energy crisis, especially impacting Asia and Europe. The International Monetary Fund has lowered its global growth forecast for 2026 to 3.1 percent, down from 3.3 percent. If the war continues, the outlook might worsen. Concerns are rising about potential violations of international law by the US and Israel, with some allies urging a return to international order. Instead of addressing these pressing issues, some Western politicians speculate on whether this conflict benefits or harms China. US Senator Rick Scott even suggested that blocking oil to China could be a positive move. Meanwhile, Chinese officials are pushing back against this narrative, asserting that the US's actions are damaging its own image, especially in the Gulf. China, with its diverse energy sources and significant oil reserves, is better prepared for energy supply shocks. This conflict matters because it reshapes global power dynamics and impacts economies everywhere.