Are global oil reserves sufficient to withstand renewed US-Iran war?

Oil prices have climbed towards their highest levels in five months as attacks on tankers in and around the Strait of Hormuz mount and efforts to end the United States-Israel war on Iran are deadlocked.Brent crude, the international benchmark, rose by more than $2 to $110.85 a barrel on Wednesday, close to a five-month peak.Recommended Stories list of 4 itemslist 1 of 4US-sanctioned ICC wins Sakharov Prize, EU’s top human rights awardlist 2 of 4Trump says Musk restored Ukraine’s Starlink access amid Russia warlist 3 of 4Will ICE agents play a role in the 2026 US midterm elections?list 4 of 4Ilhan Omar plans to move out of her Washington DC home after federal raidend of listA day earlier, Iran’s Islamic Revolutionary Guard Corps (IRGC) said two tankers were “set ablaze” after hitting mines at what it called an illegal crossing point in the strait. Then, on Thursday, the IRGC said it hit seven more tankers although Washington dismissed the claim. In a statement, the IRGC said four of the vessels were transferring oil when they were targeted and caught fire overnight.In September, the Houthis, an armed group also known as Ansar Allah (Arabic for Supporters of God), seized territory in...