Chevron CEO says economies 'are going to have to slow' as Strait of Hormuz closure disrupts oil supply

Chevron CEO stated that economies will need to slow down due to the disruption of oil supply caused by the closure of the Strait of Hormuz amid the Iran war. Asian countries will be the first to experience shortages, followed by Europe, while the U.S. will be less affected. Rising oil prices are driving up gas prices and impacting the airline industry.