Global Economy Briefing — March 21, 2026

2026-03-21 - 08:40

The global economy briefing arrives as Iraq’s declaration of force majeure on all foreign-operated oilfields sent Brent crude above $112 on Friday, marking the sharpest single-day escalation in the Strait of Hormuz crisis since the war began. The same energy shock that is lifting oil is crushing European industry: the Eurozone’s trade balance swung to