What Beijing Is Learning From Operation Epic Fury
Why it matters: The conflict has driven Brent crude to $114 a barrel, disrupting global oil supply via the Strait of Hormuz.
- Brent crude reached $114 a barrel, indicating significant market volatility.
- The Strait of Hormuz is effectively closed to commercial traffic, severely impacting global shipping.
- The International Energy Agency declared this the largest supply disruption in the history of the global energy market.
Five weeks into the US-Israel air campaign against Iran, Beijing is observing the global economic fallout, marked by Brent crude hitting $114 a barrel and the effective closure of the Strait of Hormuz to commercial traffic. The International Energy Agency has labeled this as the largest supply disruption in global history, providing critical lessons for China regarding international conflict and its economic repercussions.
