We can tell you who will really get rich from this oil crisis – and how we can stop them | Isabella Weber and Gregor Semieniuk

Soaring oil costs signal the great transfer of wealth away from households, but also a new opportunity to redistribute it The strait of Hormuz is now at the centre of the world. While the US-Israeli war against the Islamic Republic leads to death, destruction and pollution across the Middle East, the whole of the global economy is bracing for the fallout from the conflict. Shipping through the narrow passage has come to a near halt. Already, crude oil prices have shot to above $100 per barrel...

By Isabella Weber and Gregor Semieniuk