In Context: Erika Weinthal and Jeannie Sowers on the Middle East Conflict’s Impacts on Civilian Infrastructure
New Security Beat
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Escalation in the conflict involving Iran has seen the UK grant the US use of British bases for strikes targeting the vital Strait of Hormuz, a key oil transit point. These developments are having immediate global economic repercussions, with European gas prices surging 35% after an LNG plant was reportedly hit by Iran, and airlines bracing for oil prices to reach $175 a barrel.