Geopolitical Economy Report
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Iran war expands: This big escalation could cause an oil crisis
Posted
July 25, 2026
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27:28Now PlayingThe US war against Iran is expanding into a larger regional conflict. After Trump sabotaged a diplomatic agreement, Tehran closed the Strait of Hormuz. Now Yemen's Ansar Allah (known commonly as the Houthis) has declared a naval blockade of Saudi Arabia, shutting down oil exports in the Red Sea. Ben Norton explains how this escalation could cause a severe crisis in the global energy market.
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