The Price Of Oil The Most Important Economic Number In The World At This Moment

The Largest Supply Disruption In History Has Made The Price Of Oil The Most Important Economic Number In The World At This Moment

Michael Snyder

 Financial markets started to panic all over the world because investors know that if the price of oil stays above $100 a barrel for an extended period of time it will absolutely crush the global economy. Our entire way of life depends upon cheap energy, because virtually every type of human activity in the modern world uses energy. I am using energy as I write this article, and you are using energy as you read this article. After the crazy spike in the price of oil that we witnessed on Sunday night, authorities quickly shifted into damage control mode, and for the moment they have successfully pushed the price of oil back below 90 dollars a barrel. But how long will they be able to keep it there?

According to CNBC, we are currently experiencing the largest oil supply disruption in the history of the world…

The U.S. war against Iran has triggered the largest oil supply disruption in history, more than double the previous record set during the Middle East crisis of the 1950s, according to an analysis by consulting firm Rapidan Energy.

About 20% of the world’s oil supply has been disrupted for nine days now as tanker traffic through the Strait of Hormuz remains at a standstill. Crude prices have surged above $100 per barrel in response.

The biggest disruption before the current war was during the Suez Crisis of 1956 when Britain, France and Israel invaded Egypt’s Sinai Peninsula, the energy consulting firm told clients in a Sunday note. In that crisis, about 10% of the world’s oil supply at the time was disrupted.

Needless to say, there have been other times when the global supply of oil has been disrupted for one reason or another.

During those times, nations with spare capacity have been able to step up and bridge the gap.

But this time around, the nations that possess most of the spare capacity are being directly affected by this war…

The big difference between the supply shock of the Iran war and past crises is the world has no spare oil capacity to address the problem, the analysts said. Saudi Arabia and the United Arab Emirates hold the overwhelming majority of swing capacity but they have been cut off from the global oil market by the Hormuz closure, the analysts said.

“The conflict has not only taken offline a historically high share of global supply – it has simultaneously disrupted the primary holders of spare capacity,” the Rapidan analysts said. “The result is a market with no meaningful cushion. There is no swing producer positioned to step in.”

It appears that a lot of pain at the pump is ahead for all of us.

Already, the average price of a gallon of gasoline in the state of California has surpassed the five dollar mark…

We haven’t seen anything like this in a long time.

If you can believe it, one gas station in Los Angeles is actually charging more than 8 dollars for a gallon of gasoline…

A lot of people actually thought that the article that I posted yesterdaywas exaggerating the threat.

I guess not.

The Iranians continue to insist that they will be able to push the price of oil up to $200 a barrel…

The good news is that for now western authorities have been able to push the price of oil back below $90 a barrel.

Early on Monday, G7 finance ministers suggested that there could soon be a coordinated release of emergency oil reserves…

The G7 said it was ready to take “necessary measures” to address the economic impact of the US-Israel war on Iran, after a meeting prompted by soaring oil prices, which rose above $100 (£74) a barrel for the first time since 2022.

Following a remote meeting on Monday, G7 finance ministers said they would closely monitor the situation but stopped short of agreeing to release emergency oil reserves.

When that news broke, it immediately ended the panic.

So that was a good thing.

But the truth is that releasing those oil reserves would only be a temporary measure, and it wouldn’t provide that much relief.

Later on Monday, the price of oil really started plummeting once President Trump said that “the war is very complete”…

President Trump told CBS News that he believes the U.S.-Israeli war with Iran is “very far ahead of schedule.”

“I think the war is very complete, pretty much,” he said. “They have no navy, no communications, they’ve got no air force. Their missiles are down to a scatter. Their drones are being blown up all over the place, including their manufacturing of drones. If you look, they have nothing left. There’s nothing left in a military sense.”

Of course the war is not even close to over, but Trump’s statement was able to push the price of oil way down.

And during that same interview, Trump warned that he was considering taking over the Strait of Hormuz…

Speaking to CBS News Senior White House Correspondent Weijia Jiang on Monday, U.S. President Donald Trump said that he is considering taking further action to secure the Strait of Hormuz, the critical waterway spanning from Iran to Oman through which a fifth of global oil supplies flow annually.

Trump said that while some ships are moving through the Strait despite the Iranian threat, he said that he is “thinking about taking it over.”

It would take boots on the ground to physically secure the Strait of Hormuz, and Trump knows that.

The Chinese have also been very alarmed by what has been going on in the Strait of Hormuz, because they get a lot of their oil from the Middle East.

Just hours ago, China warned that it “will take necessary measures to safeguard its own energy security”…

The Chinese have also been very alarmed by what has been going on in the Strait of Hormuz, because they get a lot of their oil from the Middle East.

Just hours ago, China warned that it “will take necessary measures to safeguard its own energy security”…

“Energy security is of paramount importance to the global economy, and all parties bear responsibility for ensuring stable and uninterrupted energy supplies,” Chinese Foreign Ministry spokesperson Guo Jiakun said Monday when asked whether Beijing would join G7 discussions about a coordinated release of strategic petroleum reserves.

“China will take necessary measures to safeguard its own energy security,” Guo added, referring reporters to the country’s “relevant authorities” for details.

China has repeatedly called for unimpeded tanker access through the strait, citing its importance to global trade, and Chinese officials have been holding talks with Iran about resuming safe oil passage, according to media reports last week. At the same time, Beijing has avoided directly blaming Tehran and has repeatedly condemned the U.S.-Israeli offensive as a violation of international law.

IDF: More than 1,900 Iranian Regime members killed since start of Iran operation

IDF: More than 1,900 Iranian Regime members killed since start of Iran operation

i24NEWS

The Israeli military said Monday evening it is continuing its campaign against Iran and its regional allies, reporting significant strikes on Iranian military infrastructure since the start of the operation.

IDF spokesperson Effie Defrin said Israeli forces have killed more than 1,900 members linked to the Iranian regime and wounded many others as part of efforts to weaken Tehran’s military and strategic capabilities.

According to the army, Israeli strikes have also targeted key logistical assets, including six military airports and 16 transport aircraft used by Iran’s Revolutionary Guard to move weapons and funding across the Middle East.

The IDF said it is also continuing operations against Iranian missile launchers to reduce the threat to Israel. In Lebanon, the military reported striking more than 700 Hezbollah targets, including over 100 linked to the group’s Radwan force, as well as infrastructure in Beirut. Israeli troops are also continuing ground operations in southern Lebanon aimed at dismantling Hezbollah positions.

---

Defrin acknowledged that Iranian and Hezbollah attacks have resulted in two deaths and several civilian injuries in Israel, noting that while the country’s air defense systems are highly effective, they cannot provide complete protection.

He urged the public to follow safety instructions issued by the Home Front Command and said there are currently no changes to civilian security guidelines, including the reopening of schools.

Turkey’s Iran strategy is to ‘preserve’ the mullahs’ regime

Turkey’s Iran strategy is to ‘preserve’ the mullahs’ regime

Christine Douglass-Williams

In the face of the current war on Iran, Turkey has been unusually quiet. Beyond calling for an immediate end to the war, along with China and Russia, it intercepted an Iranian ballistic missile over its territory on March 4, and merely echoed unavailing calls for “diplomacy” rather than joining in the long-overdue strike on Iran aimed at crippling its advanced military capabilities. But now comes a more realistic report about Turkey, reflective of its identity. “Turkey’s Iran strategy: Preserve the mullah regime — or ensure its successor remains anti-Western,” by Abdullah Bozkurt, Nordic Monitor, March 8, 2026:

The Islamist government of Turkish President Recep Tayyip Erdogan has adopted a strategic approach toward Iran that prioritizes the survival of the clerical regime in Tehran. Should that objective fail, Ankara appears determined to shape any political transition in a way that prevents the emergence of a pro-Western or Israel-aligned government.

Recent developments reveal that Turkey’s Iran policy is not driven merely by regional diplomacy but by a deeper geopolitical calculation: maintaining an ideological and strategic axis that counters Western influence in the Middle East while protecting Erdogan’s own political positioning at home and abroad.

While the Erdogan government, joined by much of the co-opted opposition in Turkey, has ratcheted up anti-Israel rhetoric in the aftermath of attacks on Iran, it has deliberately downplayed the Iranian mullah regime’s unprovoked missile launch against Turkish territory. Government propagandists have even gone so far as to blame the incident on Israel, portraying it as a supposed false-flag operation despite offering no evidence to support the claim.

For Ankara, Iran’s stability is viewed as a national security interest. Turkish policymakers increasingly interpret attempts to take down terrorism-sponsoring mullah regime as part of a broader geopolitical struggle involving the United States and Israel. They frequently frame protests or internal unrest in Iran as movements influenced by foreign powers, echoing narratives long promoted by Iranian leaders themselves.

Turkey has been noticeably quiet about the war against Iran, as it tries to balance its Islamic supremacist ambitions while also cleverly navigating its NATO membership, which is key to keeping it well armed as a powerful global player.

Turkey is a detriment to the West and Israel. Consider: Turkish Present Recep Tayyip Erdogan has referenced Hamas as a “liberation organization,” hosted its leadership in Ankara, and granted them Turkish passports. Turkey and Qatar are well-known Muslim Brotherhood supporters. Turkey also supports Syria’s jihadist President Ahmed al-Sharaa, and has sought an increased partnership with Iran. It even considers the Taliban a friend. 

Erdogan also “hailed a massive pro-Palestinian rally in Istanbul on New Year’s Day as a ‘historic moment.’” He stated that “it sent a clear message that Palestine is not alone.” He threatened Israeli Prime Minister Benjamin Netanyahu, saying: “What this Pharaoh called (Israeli Prime Minister) Benjamin Netanyahu has done will not go unpunished, because he incurred the curses of countless oppressed people, from the young to the old.” As if that were not enough to wake up the West, the Begin-Sadat Center for Strategic  Studies also states regarding the Islamic State’s short-lived caliphate in Iraq and Syria:

The ability of ISIS to become a functioning state so quickly is largely due to its relationship with President Erdoğan in Turkey.

ISIS has had strong connections to Turkey over the years, whether through its oil industry or through its willingness to shield wanted members of the Muslim Brotherhood. This “neighborly” relationship was essential to ISIS’s success, and it continues to be reflected in Turkish decisionmaking.

As Turkey evaluates its own interests in the face of a widening conflict, its hope is for more influence, first under a seemingly benign role “to assume a greater share of the responsibility for regional security, stability, and peace,” but in reality, Turkey seeks its own regional dominance, and ultimately a global caliphate. Since ongoing instability would presumably require American ongoing involvement, this does not bode well for a country with big ambitions for primary leadership in the region.

Long before the war on Iran began, Turkey was revealing itself to be the new Iran. 

As America and Israel target Iran’s capabilities, Turkey should not be left unimpeded; it should be carefully watched. The worst thing that could happen would be to allow Turkey to build up its arsenal further. While Greece has “‘fiercely’ lobbied France to halt sale of radar-guided, air-to-air Meteor missiles to Turkey, several EU countries are moving ahead with arms sales with Turkey.” They include Italy and Spain.

MORE...

Jan Markell: Ten Prominent Markers Of Jesus Soon Return

Jan Markell: Ten Prominent Markers Of Jesus Soon Return

A common question in the prophecy community as to our times is, “Why are we still here?” It’s a good question. With the rapid convergence of so many last days’ signs, we should be filled with hopeful expectation of Jesus’ return. In 2026, watch the following. They are just ten prominent markers as to how late it is.

1 — The continued rush to globalism. Marco Rubio gave a compelling speech back in February about the perils of becoming citizens of the world. Many listened. The globalists pushed back and continue to praise their love for one-worldism. But we can’t stop what’s coming. The Antichrist will run a one-world system, and almost everything is in place. The globalist idea will be painted as the one thing that will solve the world’s problems. No more wicked regimes if the world is united! Rubio and others have brilliantly warned us, but the rush to globalism is on!

2 — Watch for a greater stirring of the masses due to the increase of the spirit of the Antichrist. I lived it in the winter of 2026 here in Minneapolis as radicals rioted against ICE, and in 2020 the chaos due to the George Floyd ordeal. I’ve seen one medium-sized city reduced, in part, to ashes because of demonic lawlessness. In carnal man, if they do not get their way, laws are tossed and anarchy is celebrated. As I’ve said many times, the Antichrist won’t have to renta-mob. Violence will be the new global normal. I’ve watched it up close and personal. The Tribulation will set a new gold standard when it comes to violence.

3 — Iran is destabilizing the world, but the ruthlessness of the Mullahs is being challenged by an American President in cooperation with Israel. Just know that Iran is not going away, nor is her evil intent. She is the prominent player in the Ezekiel 38-39 Gog-Magog War. She may be weakened and more nukes may be demolished, but she will rise from the ashes to invade Israel to seize a spoil (Ezek. 38:10-13). God will defeat Persia (Iran), Turkey, Russia and other invaders on the mountains of Israel. Also, remember that Israel must dwell “securely” (Ezek. 38:11) in the last days without bars or gates. Neutralizing Iran will help bring this about even though it is temporary.

4 — Let me expound a bit on the biggest story of the last few years, and will be going forth. We need to keep alert for more antiSemitism on the right, such as Tucker Carlson, and more global Jew-hatred. Jews admit they feel safe almost nowhere. They are fleeing to Israel, which is hardly the safest place on earth! They are even fleeing New York under Mayor Zohran Mamdani, an antiIsrael Communist and jihadist. Almost half of young Republicans surveyed see Jews as a threat to the American way of life, having been influenced by the Tucker Carlson’s and Candace Owens’. Among many on the left of all ages, the Jews and Israel are the root of all evil.

5 — Watch Turkey. She is micro-managing Syria, destroying the good guys in Syria, and readying for her major role in Gog-Magog. President Erdogan is the most dangerous Middle East player and promoter of the future global Islamic Caliphate. Once he conquers Syria, he will move on to Iraq and maybe even Iran. He is underestimated and should not be! Once Iran is neutralized, Erdogan may become the most prominent Mid-East leader next to Netanyahu.

More...

Growing Prophetic Expectation And Confusion Surrounds Middle East Conflict

Growing Prophetic Expectation And Confusion Surrounds Middle East Conflict

 PNW STAFF

War in the Middle East has always stirred more than geopolitical analysis. It awakens prophetic expectations and hope.

As the conflict between Iran and the United States alongside Israel intensifies, something striking is happening across the world's major faith communities. Islamic clerics are invoking the return of the Mahdi. Jewish rabbis are speaking openly about redemption and the coming of the Messiah. Some Christians are declaring that America or Donald Trump must play a specific role in the end times.

Prophetic expectation is rising everywhere -- but so is confusion.

For Christians who take the Bible seriously, moments like this demand both discernment and humility. Scripture does give us a prophetic framework for the future. But it also warns repeatedly about deception, speculation, and misplaced hope.

To understand the moment, it is worth examining what each major faith tradition is currently saying -- and how those interpretations compare with a careful reading of biblical prophecy.

Islamic Expectations: The Mahdi And Apocalyptic War

Within parts of Shiite Islam, especially in Iran, eschatology has always played a significant role in shaping worldview and politics.

Shiite theology anticipates the arrival of the Mahdi, a messianic figure who will appear during a time of global chaos, defeat Islam's enemies, and establish justice across the world. Some interpretations within the tradition view massive regional war and instability as precursors to his appearance.

In recent days, some Islamic voices have framed the escalating confrontation with Israel and the United States in apocalyptic terms -- portraying the conflict as part of a larger cosmic struggle between Islam and the West.

Even more striking, certain online commentators and clerics have begun labeling Donald Trump as a potential "antichrist-like" figure opposing the Islamic end-time deliverer.

Such interpretations highlight how deeply apocalyptic expectation runs across cultures. Yet they also underscore profound theological differences.

The Mahdi of Islamic expectation does not correspond to the biblical Messiah. In fact, many Christian prophecy scholars have long noted that elements of the Mahdi narrative more closely resemble characteristics the Bible attributes to the Antichrist -- a charismatic global leader who rises during a time of turmoil and gathers widespread allegiance.

For many Islamic radicals turmoil is not merely endured — it can be welcomed as a necessary step toward redemption. That mindset creates a dangerous dynamic in which war, instability, and confrontation with Israel or the West are sometimes framed as spiritually meaningful and even necessary events rather than tragedies to be avoided.

More.....