The war in Iran has disrupted roughly 15 million barrels per day of global oil supply, about 15% of the world’s total. That shock is roughly three times larger than the supply hit during the 1970s oil crisis. It has pushed crude prices up nearly 40% since the conflict began and raised the risk of a global recession.

Disruptions in the Strait of Hormuz and regional airspace are making global trade more costly and complex, driving up the price of oil and fertilizer and likely leading to higher food prices over time. For the few ships willing to brave the strait, insurance costs have skyrocketed compared with before the war started.

In the live FAQs linked below, we’ll track how these effects are unfolding across industries and how those consequences shift based on companies’ exposure to three key regions: North America, Europe, and the Middle East and Asia.

Key Takeaways from Our Regional FAQs

• In the US, surging oil prices are hitting an already fragile economy, marked by slow GDP growth, a cooling labor market, and persistent inflation.
• In Europe, soaring energy costs are driving up transport and production expenses, squeezing farmers and manufacturers, raising inflation risks, and increasing the likelihood of factory closures.
• In the Middle East, the conflict has disrupted tourism, shipping routes, and energy exports, costing the region hundreds of millions of dollars in economic activity each day.

Follow Our Live FAQs

Live FAQ: The Marketing & Commerce Impacts of the War in Iran on North America

Live FAQ: The Marketing & Commerce Impacts of the War in Iran on Europe

Live FAQ: The Marketing & Commerce Impacts of the War in Iran on the Middle East and Asia