Last 24 hours show a prolonged Iran war could do calamitous damage to global economy

Recent military escalation between Iran and Israel over the Persian Gulf has demonstrated the vulnerability of global energy markets and supply chains to sustained regional conflict. The exchange of expensive missile strikes highlights how a prolonged war could disrupt oil production, shipping routes, and commerce across one of the world's most economically critical regions. Energy prices, already volatile, could spike dramatically if either side targets petroleum infrastructure or blocks the Strait of Hormuz, through which roughly a fifth of global oil passes. Such disruptions would ripple through inflation, transportation costs, and economic growth worldwide, affecting everything from fuel prices to consumer goods. The 24-hour cycle of tit-for-tat strikes underscores how quickly limited military engagements can escalate into broader conflict with far-reaching economic consequences.