Can the world withstand another winter of war?

NEWS SUMMARY

The world faces a "polycrisis" as the US-Israeli war on Iran, beginning in February, has disrupted oil flows through the Strait of Hormuz, while Ukraine's drone strikes on Russian refineries have further strained global fuel markets. This dual shock has driven Brent crude prices to $117 and EU inflation to 3.8%, exacerbating fiscal anxiety and debt service costs across Europe.

Based on full article · updated 6h ago

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Submitted by Marco Carnelos on Mon, 11/02/2026 - 17:47 Amid ongoing conflicts in Ukraine and Iran, economic pressures are soaring around the globe High gas prices are displayed at a Shell station in Burbank, California, on 11 May 2026 (Mario Tama/Getty Images/AFP) Off Almost five years after the Russian invasion of Ukraine scrambled Europe’s energy map, another war has delivered a second shock. Since the US-Israeli war on Iran began this past February, the Strait of Hormuz, through which about a

Can the world withstand another winter of war?

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