Given disruptions in supply chains all over the world, the conflict has shown that Iran’s role in the global economy is not merely centred on oil, says this writer. LONDON: The war between Iran, the US and Israel has escalated into a major global crisis, with consequences that are reaching far beyond the Middle East. The closure of the Strait of Hormuz, through which around 25 per cent of the world’s oil ordinarily passes, has rattled global energy markets. This has only been worsened by the US