Is the global oil crisis hitting the 'point of NO return'?

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Oil prices have been fluctuating since start of the US-Israeli war on Iran three months ago, hitting a four-year high of $126 in April. But how long before prices return to normal or are they at the 'point of no return'? The partial closure of the Strait of Hormuz due to the conflict in the middle east has severely disrupted global oil and gas supplies. Governments are burning through emergency reserves at a 'record pace', according to the International Energy Agency. Peace talks between Iran and the US have stalled as Israel continues its offensive in Lebanon. Washington and Tehran have launched fresh strikes with Iran announcing it will completely close the Strait of Hormuz. What does this mean for global economies as prices hikes are impacting petrol, food and household bills. Joining Enda Brady for this discussion: Gaurav Sharma Energy Market Analyst Patrizio Donati Co-founder and Director of Renewable Energy Company Terrawatt Chris Weafer CEO of Macro Advisory #oilcrisis #iran #energycrisis #oilprices #globaleconomy #straitofhormuz #brentcrude Roundtable is a discussion programme with an edge. Broadcast out of London and presented by Enda Brady, it's about bringing people to the table, listening to every opinion, and analysing every point of view. From fierce debate to reflective thinking, Roundtable discussions offer a different perspective on the issues that matter to you. Watch it every weekday at 15:00 GMT on TRT World.