London: Oil surged over $115 a barrel this Monday as the war in Iran entered its fifth week. Houthi strikes on Israel have raised concerns that shipping through the Bab al-Mandeb strait could be disrupted, adding to the supply pressure already created by the effective closure of the Strait of Hormuz. Also in this edition, we see how the conflict in the Middle East is affecting a wide range of businesses, including used car dealers in Japan and South Korea.

According to France24.com, the ongoing conflict has significantly impacted global oil markets, leading to an increase in prices due to heightened tensions and potential disruptions in major shipping routes. The Bab al-Mandeb strait, a crucial passage for oil tankers, could face disruptions amid the escalating tensions, further straining supply chains already affected by the closure of the Strait of Hormuz.

The ripple effects of the conflict are being felt across various sectors, with businesses like used car dealers in Japan and South Korea experiencing changes in market dynamics due to the instability in the Middle East. The uncertainty in oil supply and pricing has prompted these businesses to adapt to fluctuating costs and potential supply shortages, highlighting the far-reaching impact of the conflict beyond the oil industry.