**Oil and the Middle East Conflict: What's at Play in the Global Market** Tensions in the Middle East have reached a boiling point, with the United States and Israel launching attacks on Iran, followed by retaliatory strikes by Iran against targets in the Gulf. The Strait of Hormuz, a critical waterway for global oil trade, has effectively been shut down, causing a surge in global oil prices. But did the United States anticipate this outcome when it decided to strike Iran? How long will the oil price spike last? We spoke with Michael Bradshaw, a professor of global energy at Warwick Business School in England, to shed light on the situation. The Strait of Hormuz is one of the world's most critical chokepoints for oil trade, with over 20% of global oil exports passing through it. The waterway connects the Persian Gulf to the Gulf of Oman, making it a vital link between oil-producing countries like Saudi Arabia, the United Arab Emirates, and Iran, and major oil-importing countries like China, Japan, and India. In the context of Nigeria, the implications of this conflict are significant. The country relies heavily on imported oil, and any disruption to global supplies can lead to increased prices, affecting the average Nigerian consumer. Furthermore, Nigeria's economy is still recovering from the 2020 oil price crash, and any sustained spike in oil prices could have far-reaching consequences for the country's economic growth. So, did the United States factor in the risk of a price spike when it decided to strike Iran? Professor Bradshaw notes that while the US may have anticipated some impact on oil prices, the current situation is more severe than expected. "The US may have underestimated the extent to which Iran would retaliate and disrupt oil exports through the Strait of Hormuz," he says. The duration of the oil price spike is uncertain, but experts warn that it could last for several months or even years, depending on the outcome of the conflict and the ability of oil-producing countries to compensate for the lost shipments. In conclusion, the Middle East conflict has significant implications for the global oil market, and Nigeria is not immune to its effects. As the situation continues to unfold, one thing is clear: the stakes are high, and the global economy is watching with bated breath.