War in Iran Sparks Global Economic Shock as Oil Surges Past $100

Iran's closure of the Strait of Hormuz sent global energy markets into turmoil.

Brent crude surged past $100 a barrel, briefly reaching $107 before easing.

Ain Libya

Oxford Economics modeled a scenario where Brent crude surges to $190 after six months of closure.

Around two-thirds of global oil consumption is transport-related, affecting logistics, agriculture, and industry.

Germany cut its GDP growth projection by more than half to 0.6%.

The IMF lowered its global growth forecast from 3.3% to 2.9%.

Ash-Sharq

British house prices rose unexpectedly, but borrowing costs are weighing on demand.

The war is creating a feedback loop where rising energy prices raise costs across sectors.

Oxford Economics warned inflation could reach 7.7%.

“Three Economic Impacts of the War With Iran Besides Rising Oil Prices - Author: Ángel Bermúdez - Source: BBC Mundo - Reading time: 6 minutes The consequences of the United States–Israel war against Iran on the global economy are clearly visible”

BBC

A prolonged conflict could tip the world into outright recession.

The fragile recovery after years of disruptions is at risk.

Rising diesel prices threaten to increase costs across global trade networks.

Insurance premiums for Persian Gulf shipping had risen more than 1,000%.

CNN Arabic

Fertilizer prices surged 15%, jeopardizing agriculture.

Experts expect at least a three-month recovery period after the war ends.

Repairing damaged infrastructure takes time.

DW

The war's economic fallout is more complex and enduring than early assessments suggested.