Infrastructure that supplies the world with oil and gas is at risk

The Iran war threatens some of the world’s most critical oil and gas infrastructure — the pipelines, refineries, and shipping terminals that keep energy flowing from the Persian Gulf region to the global economy.

Strikes by Iranian drones and missiles have disrupted some operations, while the risk of Iranian strikes has effectively closed the Strait of Hormuz, the conduit for some 20% of the world’s oil and liquefied natural gas. Oil fields in the region have cut back output as storage fills up.

All that is raising the cost of everything that needs fuel made from crude: flying, cooking, heating homes, running factories, transporting goods, and farming. — AP