Saudi Aramco CEO Warns “Iran war will have ‘catastrophic consequences’ for global oil market”

The verdict on his warning: it is accurate, and likely understated. The real question for investors is not whether this matters globally. It is how it maps onto their specific portfolio and what to do about it.History offers a useful reference point. The 1973 Arab oil embargo, which blocked a far smaller share of global supply, sent oil prices up roughly 400%. The 1990 Gulf War triggered a spike closer to 100%. A sustained Hormuz closure would affect a larger share of global supply than either of those even ...