How will the war on Iran impact the US economy?
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The Bottom Line
Experts state the US economy's fate depends on oil tankers returning to the Strait of Hormuz.
How This Affects You
Your household budget could be impacted by economic outcomes tied to oil tanker traffic in the Strait of Hormuz.
AI Summary
Experts predict the economic impact of a potential war on Iran will hinge on how quickly oil tankers can resume passage through the Strait of Hormuz after any conflict.
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What could you buy with the money spent by the US during the Iran war’s first week? - AP News
Pentagon briefs lawmakers on cost of war on Iran – but true price tag remains unknown
This article is part of a story we're tracking:
Iran & Middle East Conflict
Tracking the evolving military and diplomatic situation across the Middle East, including US-Iran tensions, Israeli operations, proxy conflicts, and the broader geopolitical implications for the region.
Economy & Markets
Monitoring the US and global economy including inflation, employment, Federal Reserve policy, trade tensions, market volatility, housing affordability, and the financial pressures facing American households.
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FinanceCracks emerged in a resilient US economy before war in Iran sent oil prices rocketing - AP News
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PoliticsScoop: Trump eases Venezuela sanctions on oil, fertilizer to blunt Iran war costs
<p>The Treasury Department made it easier Friday for U.S. businesses and farmers to buy Venezuelan fertilizer and oil as their prices rise because of the <a href="https://www.axios.com/world/iran" target="_blank">Iran war,</a> Axios has learned.</p><p><strong>Why it matters</strong>: The bottleneck of tankers in the Persian Gulf because of Iranian attacks has caused the costs of oil and fertilizer, a petrochemical product, to jump. It threatens to spike inflation and raise the <a href="https://www.dw.com/en/iran-us-israel-war-food-crisis-prices-fertilizer-energy-costs-inflation/a-76286348" target="_blank">cost </a>of food in the U.S.</p><hr><ul><li>By reducing sanctions on oil-rich Venezuela, <a href="https://www.axios.com/2026/03/13/iran-war-trump-officials-ship-escorts-hormuz-strait" target="_blank">Treasury Secretary Scott Bessent</a> hopes to increase supplies in the U.S. and lower prices.</li></ul><p><strong>Zoom in:</strong> The Office of Foreign Assets Control, which manages ...
GlobalKremlin: Putin, in a phone call with Trump, shares proposals to end Iran war quickly - Reuters
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GlobalWar with Iran delivers high oil prices and another shock to the global economy
Much of the pain is being caused by an effective closure of the Strait of Hormuz, which carries a fifth of the world's oil.
GlobalIran war puts at risk key pipelines, terminals and refineries that supply the world with oil and gas - AP News
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FinanceOil jumps to $100 per barrel and stocks sink worldwide with no clear end in sight for the Iran war - AP News
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