New Delhi, April 25 -- As Israeli strikes on Iranian energy infrastructure intensify, the global economy is absorbing the shockwaves of a conflict that is no longer confined to the Middle East. What began as a military escalation has evolved into a full-spectrum economic crisis, one that is driving up energy prices, disrupting supply chains, and threatening to push tens of millions back into poverty.

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The consequences are already visible across continents.

A global energy system under strain

Energy markets have entered a period of extreme volatility, with oil prices swinging sharply amid fears of prolonged disruption. Analysts now warn that the world has entered what some describe as a new era of re...