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Iran Conflict Triggers Oil Shock 2026: Strait of Hormuz Crisis Sends Oil Surging, Gold Higher — What It Means for US Growth, Inflation, Fed Cuts, EUR/USD & USD/JPY
The weekend of February 28–March 2, 2026, just rewrote the global economic playbook. US and Israeli strikes killed Iran’s Supreme Leader Ayatollah Ali Khamenei. Iran retaliated with missiles and drones. Tanker traffic through the Strait of Hormuz — the narrow chokepoint carrying 20% of the world’s oil and major LNG flows — ground to a…