The massive economic impact of the global energy crisis

The UN's trade and development arm released an analysis detailing the massive economic impact of the global energy crisis, even if the Iran war ended now. The UN expects global economic growth to slow from 2.9% in 2025 to 2.6% this year, and global merchandise trade growth to slow from 4.7% last year to 1.5%-2.5% in 2026. This crisis, stemming from disruptions in the Strait of Hormuz, is feeding through the entire global economy, causing higher prices and messed-up supply chains. Developing nations are hardest hit, with borrowing costs already rising in Africa, Latin America, the Caribbean, and developing Asian nations. The Labor Department will release U.S. inflation data for March on Friday, capturing some of the war's effect.