The open conflict between the United States and Israel against Iran is ushering the world into a scenario that seemed improbable for decades. The fears of drone attacks and missiles are strangling the Strait of Hormuz, leading to a significant reduction in tanker traffic, which is crucial for the Gulf region. Countries like Iraq, Kuwait, and the UAE are shutting down oil wells due to a lack of storage, causing oil prices to skyrocket. This potential economic earthquake threatens to turn the tables on global economies, similar to the oil shocks that have occurred since the 1970s. Aramco, Saudi Arabia's state oil company, warns of "catastrophic consequences" if the conflict continues to obstruct maritime traffic. Interestingly, China appears to be the only major economy that prepared for this crisis by filling its oil reserves in January and early February.