Global economy could collapse by May if war continues: Energy expert Anas Alhajji

Energy expert Dr Anas Alhajji warns that if the ongoing war does not end soon, the global economy could collapse by early May due to the Strait of Hormuz blockage. The crisis affects not just oil but also helium, essential for computer chips and semiconductors, with 35 per cent of the world’s helium traded through the strait. Dr Alhajji highlights that over 90 per cent of Asia’s helium supply is impacted, threatening industrial sectors in South Korea, Taiwan, and China. The blockage also affects fertilisers, LPG, and shipping, creating supply chain disruptions across multiple sectors. He states this is a larger crisis than any seen in recent history, including the 1970s oil shock. Dr Alhajji also accuses the US administration of manipulating oil prices through statements and predicts Brent crude could reach $160 per barrel. He advises India to significantly increase its strategic petroleum reserves from 100 million barrels to at least 400 million barrels, linking energy security to national security.

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