WorldEconomy
Six months into US-Israel-Iran war, global economy avoids worst fears despite higher costs
Six months after the US and Israel began military action against Iran, the global economy has not suffered the most feared outcomes, but the conflict has raised energy and food costs, disrupted travel and trade, and strained supply chains. Oil prices spiked sharply before easing, while financial markets have recovered from their lows.
Six months into the war between the US, Israel and Iran, some of the worst fears for the global economy have not materialised, though the conflict has driven up energy and food costs, disrupted travel and trade, and added pressure to already fragile supply chains.
Oil prices surged after the US and Israel began military action against Iran on February 28. Brent crude rose from around $72 a barrel before the war to nearly $120 at its peak as shipping through the Strait of Hormuz was disrupted. Prices have since eased but remain above pre-war levels.
Financial markets have recovered sharply from the initial shock. The Dow Jones, S&P 500 and Nasdaq have all posted strong gains since their late-March lows, helped in part by continued optimism around artificial intelligence.
- Iran war economic impact
- defense contractors in war
- US Israel Iran conflict
- oil prices surge
- airline industry struggles
From
WorldEconomy
Six months into US-Israel-Iran war, global economy avoids worst fears despite higher costs
Six months after the US and Israel began military action against Iran, the global economy has not suffered the most feared outcomes, but the conflict has raised energy and food costs, disrupted travel and trade, and strained supply chains. Oil prices spiked sharply before easing, while financial markets have recovered from their lows.
Six months into the war between the US, Israel and Iran, some of the worst fears for the global economy have not materialised, though the conflict has driven up energy and food costs, disrupted travel and trade, and added pressure to already fragile supply chains.
Oil prices surged after the US and Israel began military action against Iran on February 28. Brent crude rose from around $72 a barrel before the war to nearly $120 at its peak as shipping through the Strait of Hormuz was disrupted. Prices have since eased but remain above pre-war levels.
Financial markets have recovered sharply from the initial shock. The Dow Jones, S&P 500 and Nasdaq have all posted strong gains since their late-March lows, helped in part by continued optimism around artificial intelligence.
- Iran war economic impact
- defense contractors in war
- US Israel Iran conflict
- oil prices surge
- airline industry struggles
From