Dallas Federal Reserve: The U.S. economy is much more resilient to oil price shocks than in the 1980s
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The war against Iran, launched with the support of the United States, has resulted in a roughly 15% decrease in global oil supply. Shipping through the Strait of Hormuz has been impeded, throwing global commodity markets into turmoil, leading to price increases, supply shortages in some regions, and an overall drop in demand.
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