00:00This is officially the biggest monthly oil price spike ever recorded.
00:03And it's tied directly to the war with Iran.
00:06A new Congressional Research Service report confirms Brent crude posted its largest ever monthly increase
00:12after Iran declared the Strait of Hormuz closed and ceasefire negotiations collapsed.
00:18The fallout goes far beyond gas prices.
00:21Researchers say this is the single largest supply disruption in the history of the global oil market.
00:28Ripple effects are hitting natural gas, fertilizer production, airline fuel costs, and even tourism industries worldwide.
00:35It's a stark reminder of just how connected the entire global economy is to one narrow waterway in the Middle
00:42East.
00:42When Iran closes the Strait, it's not just a regional story.
00:46It's a shock that reaches every corner of the planet within weeks.
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