Energy elite brace for prolonged supply shock as Iran conflict rattles global markets

A celebration of the energy sector’s booming infrastructure collided with deep unease at the CERAWeek conference in Houston this week as the month-long Iran conflict threatens to choke off 20% of global oil and natural gas supplies through the Strait of Hormuz. The event, often called the “Davos of energy,” drew over 11,000 attendees from 90 countries despite the geopolitical turmoil, but the festive atmosphere quickly gave way to sober assessments of the crisis’s potential to trigger a global recession.