An oil pump is pictured at an obsolete oilfield in Sargentes de la Lora on March 13, 2026, near Burgos in northern Spain, where oil first flowed in Spain in 1964. Spain's leftist government yesterday said it would soon present a plan to contain the Middle East war's impact on electricity and fuel prices in one of the most dynamic developed economies. The closure of the Strait of Hormuz, a vital waterway for oil and gas exports from the energy-rich Gulf, following the US-Israeli strikes on Iran from February 28 has roiled world energy markets. (Photo by CESAR MANSO / AFP via Getty Images)