What disrupting the strait of Hormuz could mean for global cost-of-living pressures

The Guardian World

by Patrick Commins

March 2, 2026

The narrow shipping route on Iran’s southern border carries one fifth of global seaborne crude oil, one fifth of LNG shipments and one third of the most widely used fertiliser Get our breaking news email, free app or daily news podcast Donald Trump’s attempt to overthrow the Iranian government by force could trigger a new wave of cost-of-living pressures that embattled governments and central banks around the world will struggle to deal with. The US-Israel attack on the Middle Eastern country at the weekend is the latest in a long series of global economic shocks. Continue reading...

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Originally published on The Guardian World on 3/2/2026