Middle East conflict highlights how vastly the global energy supply has changed in recent years

WASHINGTON (AP) — Iran launched missiles at a U.S. military base in Qatar on Monday, threatening to stoke a wider conflict in the Middle East, a region that supplies the world with about a third of the oil used globally every year. That same day, benchmark U.S. crude tumbled more than 7%, one of the biggest single day sell-offs this year. The following day, the same thing happened, driving crude prices down by double digits this week.