In troubled times, remember that investment is a circular game

The Iran war has upended all conventional assumptions in financial markets, as the blockage of the Strait of Hormuz has caused oil prices to nearly double to around US$120 ($154) per barrel, compared with US$60 before the Feb 28 attacks. As oil importing countries begin to run down their oil stocks, risks of a global recession are rising, as the International Monetary Fund (IMF) warned in its March 30 blog: “Although the war could shape the global economy in different ways, all roads lead to higher prices and slower growth.”