Iran war reshapes global economy after Feb 28 strikes disrupt Gulf energy flows

U.S. and Israeli strikes on Iran that began on Feb 28 have brought Persian Gulf energy shipping close to a standstill, severely disrupting Middle East oil and gas deliveries. The article describes a “near shutdown in oil and gas deliveries from the Middle East” alongside a “leap in prices,” and says the shock is forcing a structural reset across global energy markets. It characterizes the episode as a confirmed escalation of war and supply disruption, not an expectation or rumor, with immediate upward pressure on spot crude and gas prices.