Rising conflict in the Middle East is rippling through the global economy, pushing up gasoline prices after Iran effectively closed the Strait of Hormuz, a vital corridor for energy shipments. Oil prices have surged, and drivers are already paying significantly more at the pump. The disruption underscores how closely everyday costs are tied to geopolitical instability.

Beyond fuel, the conflict threatens global food supplies. Countries along the Persian Gulf produce a large share of the world’s nitrogen fertilizers, including urea and ammonia, and rely on the strait to export them. If shipments remain blocked, fertilizer prices will continue to climb, forcing farmers to scale back use just as spring planting begins in the Northern Hemisphere. That could reduce crop yields and drive up food prices worldwide, with the poorest nations facing the greatest risk of hunger.

Economists warn that the impact could exceed the agricultural shock that followed the Russia and Ukraine war, given the number of fertilizer-producing countries involved. Prices for key fertilizers have already jumped sharply, and governments in vulnerable regions may need to increase subsidies, adding to debt burdens. As one expert noted, the long-term lesson is that the world has become deeply dependent on supplies that pass through a single strategic chokepoint.