Ships, Flights, Fuel: How Iran-Israel War Is Keeping Global Economy On Edge

Ships, Flights, Fuel: How Iran-Israel War Is Keeping Global Economy On Edge

Oil, gas and transport costs have surged noticeably amid the ongoing West Asia war that began on February 28 and continues to unfold.

Oil prices surge after Iran and Israel trade attacks on gasfields

The attacks have reignited fears over global supplies and inflation.

The End of the Petrodollar? How Iran War Is Reshaping the Global Economy: Author Laleh Khalili

Iran’s Revolutionary Guards have warned a “new stage of war” has begun after Israel bombed Iran’s South Pars gas field — the largest known natural gas reserve in the world. This comes as the price of oil has spiked to $118 a barrel, a 60% jump since the U.S. and Iran attacked Iran on February 28. Professor of Gulf studies Laleh Khalili lays out the global economic implications of the effective closing of one of the world’s “major choke points for

Faisal Islam: Iran war is having a dramatic effect on the UK economy

That is not going to happen, as the governor said, pointing to inflation not now set to hit its target. Clearly inflation will be higher, as gas prices in particular are passed on to households, especially in July. The question is, how high will inflation go, and how much economic damage will be caused?