<div id="readability-page-1">By Ben Aris in Berlin A sustained escalation of the US/Israel–Iran conflict could push global oil markets beyond a price shock into severe physical shortages, with rationing, supply chain disruption and recessionary pressures becoming increasingly likely, according to a note from Oxford Economics. The closure of the Strait of Hormuz has already rem...</div>

<p>A sustained escalation of the US/Israel–Iran conflict could lead to severe physical shortages in global oil markets, according to Oxford Economics. This situation may result in rationing, supply chain disruptions, and increased recessionary pressures. The closure of the Strait of Hormuz has already impacted oil supply.</p>

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A long Iran war will lead to severe shortages, says Oxford Economics