The widening of the Mideast conflict into Yemen and drone strikes on a critical Saudi oil pipeline highlight an uncomfortable reality: the Iran war is no longer a short-lived energy supply shock, but a prolonged, unpredictable test of global economic endurance.
With crude oil back above $100 a barrel, markets are adjusting to a new and more volatile phase of the conflict, one in which many of the safeguards that cushioned the initial blow nearly seven months ago have disappeared.
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