How the Iran crisis could hit your pocket and EU response

The recent military escalation between the United States, Israel, and Iran has triggered significant global economic instability and geopolitical uncertainty. Oil prices have surged by 9% as shipping companies reroute vessels to avoid the Strait of Hormuz, a critical chokepoint for 25% of global oil and gas shipments. Business analyst Adam Maguire highlights that this disruption threatens fragile "just-in-time" supply chains, potentially increasing consumer costs and impacting industries like aviation. Meanwhile, European politics expert John O'Brennan argues that the European Union remains divided and reactive, struggling to maintain a unified voice while facing energy dependency and the erosion of international norms. As the conflict spreads, the EU faces the dilemma of balancing its security commitments with the risk of being drawn into a wider regional conflagration that threatens its long-term stability and defense capacity.