Food rationing, grounded planes: Economists outline how hard countries will be hit due to Iran war - a global recession next?

Iran war economic crisis global oil shock raises urgent fears of fuel shortages and supply disruptions worldwide. With nearly 20% of oil flowing through the Strait of Hormuz, any blockage could cripple energy markets fast. Oil prices surged past key resistance levels, with some forecasts warning of a spike toward $150–$180 per barrel if disruptions continue. Experts warn prices may surge dramatically, triggering panic buying, grounded flights, and reduced food production. The crisis signals a looming supply shock that could disrupt global supply chains, weaken economies, and impact daily life within weeks if tensions escalate further.

from News-Economic Times https://ift.tt/9pnzdW7