World Insights: Middle East war pushes up oil prices, disturbing global economy

"Escalating conflict in the Middle East, particularly involving Iran, poses a severe threat to global energy supplies. Disruptions in the Strait of Hormuz could cause major oil price spikes, significant inflation, and knock-on effects on the global economy," said U.S. think-tank Council on Foreign Relations.

BEIJING, March 4 (Xinhua) -- The global economy could be plunged into a dire situation as