Analysis: A new oil shock is building. The next few weeks of war will be decisive for the economy.

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Source: CNBC
Published: 2026-03-28 22:00 UTC+10:00
Section: General
Factuality Score: 100
Opinion Category: Neutral
Topics: Business, Middle East, Military & Defence, Iran, Energy, Economy & Finance, Financial Markets, Business & Economy, War & Conflict
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Snippet:
The clock is ticking on the U.S.-Israeli war in Iran. The emerging view from oil industry executives and analysts is that the economic and market fallout from the war could escalate sharply if the Strait of Hormuz isn't reopened within roughly the next one to three weeks. Even then, enough damage may have been done already to leave energy and many other prices higher for longer.
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