Global Energy Markets: The $330B Iran War Shock, Venezuela's Oil Gambit, and EVs Hit 27% Share

Six months of conflict have swollen the world's oil and gas import bill by $330 billion between March and August, according to the Centre for Research on Energy and Clean Air. Despite smaller-than-expected price spikes, the war continues to pressure markets — Brent crude sits at $88 per barrel, up 22% since February. The Strait of Hormuz remains largely closed to commercial traffic, with Iran insisting full reopening depends on U.S....