The Middle East Oil Crisis Has Already Cost Global Businesses $25 Billion

The oil and gas crunch caused by the war between the U. S. , Israel, and Iran, has cost global businesses $25 billion, Reuters reported today, adding that the bill is going to climb higher still.

The publication analyzed corporate statements issued after the war started, finding that as many as 279 companies had cited the war as a reason for defensive actions, including price hikes and production cuts to cushion the blow from soaring oil and gas prices.