On the twelfth day of the heightening war between the coalition of US and Israel and Iran, the world is witnessing a volatile state of affairs in the global energy sector as the International Energy Agency recommends a release of 400 million barrels of oil into the market to help stabilize soaring oil prices. The war has heightened in recent hours as Iran begins laying sea mines in the Strait of Hormuz, a vital waterway in the global oil shipping route, prompting the US to threaten to increase strikes against Iran in case of any attacks on oil tankers. Although Russia is benefiting from this soaring oil price, as its oil prices have risen from $45 to $76 a barrel, Canada is also looking to help meet the demand-supply gap in this volatile situation despite infrastructural limitations. In this volatile state of affairs, Israeli forces are expanding airstrikes into the heart of Beirut, resulting in the displacement of 700,000 people, and Iran is threatening to target financial institutions in Saudi Arabia and Dubai.