The ongoing conflict in Iran has far-reaching implications for the global economy, from food to fertilizer. Many of these impacts are having ripple effects on nearly every aspect of daily life, including rising oil prices, export bottlenecks and delays due to the impending closure of the Strait of Hormuz, and widespread security concerns across the Middle East. CNN is tracking some of these influences and how they compound on each other.
Learn how the Iran war affected countries around the world.
The impending closure of the Strait has caused oil and gasoline prices to soar. This has led to a series of impacts across daily life, including access to food and energy costs.
Strait bottleneck is causing backlogs and price hikes for key exports
Iran’s de facto blockade of the strait has effectively closed the waterway, causing massive export disruptions and supply shortages. Prices for key exports such as aluminum and plastics have already risen or are expected to rise further as the war continues.
Rising tensions have raised concerns about security and safety, with companies rerouting cargo ships to avoid the strait and insurance companies sharply increasing premiums.
CNN’s Ivana Kottasova, Chris Isidore, John Toufigi, David Goldman, Eleni Giokos, Stephanie Yang, Hannah Ziadi, John Liu, Abeer Salman, Laura Sherman and travel staff contributed to this report.
