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00:02The U.S. war against Iran has triggered the largest oil supply disruption in history after
00:07tanker traffic through the Strait of Hormuz halted for nine days, according to Rapidan Energy.
00:12About 20% of the global oil supply has been disrupted,
00:15and crude prices have surged above $100 per barrel.
00:19Rapidan said the previous record occurred during the 1956 Suez Crisis,
00:24when about 10% of global supply was disrupted.
00:27Analysts said the current shock is nearly three times larger than the 1973 Arab oil embargo,
00:33which disrupted about 7% of supply.
00:36Rapidan said the closure has also cut off Saudi Arabia and the United Arab Emirates from the
00:41market, leaving no spare capacity to stabilize prices.
00:45Analysts said global markets may need higher prices to reduce demand.
00:48For all things money, visit Benzinga.com.
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