From Oil to Food, the Iran War Is Squeezing the Global Economy
The effects of the war in Iran are squeezing consumers, businesses and governments around the world, raising the prices of many essential goods.
The effects of the war in Iran are squeezing consumers, businesses and governments around the world, raising the prices of many essential goods.
The U.S. and other exporters are poised for a windfall, but disruptions to Persian Gulf supplies are also pushing gas-buying countries to consider alternatives like coal, solar and nuclear energy.
Fertilizer prices are climbing as a result of disruptions in the Middle East, putting global food supplies at risk.
Transport workers in Manila walked off the job to protest the rising cost of fuel, as the war in the Middle East causes a national energy emergency.
The war in the Middle East risks worsening an inflation problem that the Federal Reserve has struggled for years to subdue.
President Trump pivoted after escalating threats. Israel also announced it had killed an Iranian commander leading efforts to block the Strait of Hormuz to almost all shipping traffic.
The president has domestic and international political motivations for touting negotiations to end the war. Iran has similar ones to deny discussions.