As of today the Israel and US has striked Iran and Iran has launched the missiles to the Gulf Countries. So being a major supplier of oil the world oil supplies ar risk. Now I think it has to do something with US capturing the Venezuela Oil Market. See Russia has sanctions, now gulf countries are at war so the remaining oil is at Venezuela and that is controlled by the US.
PC: Pixabay.com
So it's a very tactical move from the US to have the authority for the oil supplies and thus oil supplies are at risk for all over the world. The price will be controlled by the US itself and every country will be at mercy for the US to have the oil. The developed nation will be somewhat ok,but developing nation will be losing too much. Actually the US is like a bully who wants everyone to do what they want and that's bad for the world.
I am against any war but every country wants to defend themselves and what Iran is doing is I guess correct because it's just defending themselves. Now think what will happen if Iran launched the nuclear missiles. We are at risk of World War 3. The Trump who was just thumping his chest telling that he has stopped 8 wars including India and Pakistan but doing the same thing. And if it gets dragged on, it will be catastrophic.
And when the oil supplies get sparse, the cost of everything will rise and the inflation will sky rocket. And that will again be risky for the developing nation.
Please be safe and be cautious if you are in that location. Hope the tensions reduces and everything comes to normal.