Iran war escalates, forcing global energy triage

The escalating Iran war is forcing global energy triage, with governments prioritizing dwindling supplies and deciding where to cut demand or absorb costs. Asia, heavily reliant on imported fuel shipped through the blocked Strait of Hormuz, faces the most significant exposure. Nations are conserving energy, tapping reserves, and competing for scarce supplies, leading to difficult trade-offs between economic activity and essential needs. Analysts warn these challenges could spread beyond Asia to other fuel-importing economies. Countries are implementing measures like reduced workweeks and energy conservation campaigns, but these actions come with economic costs and difficult choices.