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Economy & Business

NEW YORK, NEW YORK - MARCH 18: Traders work on the floor of the New York Stock Exchange during morning trading on March 18, 2026 in New York City. Stocks continued to slide at opening amid an interest rate decision by the Federal Reserve and a release of producer price index that showed wholesale prices rose more than expected in February. (Photo by Michael M. Santiago/Getty Images)

Iran oil shock hits global economy as early data signal stagflation risks

The US-Israeli war with Iran is showing measurable economic impact across the world.

US Secretary of Energy Chris Wright speaks during 2026 CERAWeek by S&P Global energy conference in Houston on March 23, 2026.

US ramps up emergency oil flows as prices swing on Iran strike pause

US Energy Secretary Chis Wright announced Monday that the United States started releasing 1 million to 1.5 million barrels of oil per day last week from the Strategic Petroleum Reserve.

A general view of Navigator Terminals, an oil storage depot along the River Thames, London, March 10, 2026.

Oil plunges 8% after Trump extends Iran ultimatum

In a Truth Social post, US President Trump said that Washington and Tehran “have had, over the last two days, very good and productive conversations regarding a complete and total resolution of our hostilities in the Middle East.”

Indian vessel 'Nanda Devi' carrying liquefied petroleum gas (LPG) arrives at Vadinar Port in the Jamnagar district of Gujarat state on March 17, 2026 after Iran allowed it to pass through the Strait of Hormuz, a key energy corridor that remains disrupted by the Middle East war.

Iran’s Hormuz choke hold leaves West divided as energy markets reel

Between March 1 and March 19, there were only 114 crossings of the strait, according to analytics firm Kpler — 95% less than prewar traffic.

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Analysis

Iran expands energy targets beyond Gulf as Red Sea and East Med come into play

Excess gas is burned at the oil refinery in Israel's northern city of Haifa late on March 19, 2026.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

US weighs easing Iran oil sanctions amid Hormuz crisis: What to know

US Treasury Secretary Scott Bessent arrives to attend an event in the East Room of the White House, Washington, DC, March 5, 2026.

Analysis

How Iran's strike on Qatar gas field could impact LNG market for years

A picture of Qatar Energy's operating facilities on March 3, 2026 in Ras Laffan Industrial City, Qatar.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

After 35% surge, how far could Gulf disruptions push European gas?

In this aerial view, Storage tanks at Grain LNG importation terminal, operated by National Grid Plc sit near the River Medway in the Thames Estuary on March 12, 2026, in Isle of Grain, England.

Samuel Wendel

Senior Market Research Analyst

In Washington, DC, reporting on regional business and tech

Adam Lucente

News and Business Correspondent

In New York City, reporting on regional news, militancy, climate change

Jack Dutton

Chief Business Correspondent

In Bristol, reporting on regional business, climate change, AI, tech

Sabena Siddiqui

In Karachi, reporting on South Asia, Middle East, Iran

Vanessa Ghanem

In Dubai, reporting on business, energy and politics

Francisco Serrano

In Lisbon, reporting on North Africa business

Delivery couriers of Yemeksepeti demonstrate to demand higher wages in front of the company's headquarters in Istanbul, on Feb. 5, 2022.

Turkey’s food delivery couriers latest to strike amid economic crisis

A spate of industrial action from courier drivers comes as they step into an important gap created by COVID isolation.

A man carrying bags of bread walks as a patrol of US military vehicles is seen in the town of Tal Tamr in the northeastern Syrian Hasakeh province along the border with Turkey on Feb. 8, 2020.

Bread crisis looms in Syria amid low wheat production

The bread crisis in Syrian regime areas is expected to become worse in the next few months due to drought and its subsequent impact on wheat crop production.