{"id":1367037,"date":"2026-03-08T20:35:00","date_gmt":"2026-03-08T18:35:00","guid":{"rendered":"https:\/\/prm.ua\/not-just-the-oil-and-gas-market-the-war-with-iran-caused-global-economic-disruptions\/"},"modified":"2026-03-08T20:35:00","modified_gmt":"2026-03-08T18:35:00","slug":"not-just-the-oil-and-gas-market-the-war-with-iran-caused-global-economic-disruptions","status":"publish","type":"post","link":"https:\/\/prm.ua\/en\/not-just-the-oil-and-gas-market-the-war-with-iran-caused-global-economic-disruptions\/","title":{"rendered":"Not just the oil and gas market: the war with Iran caused global economic disruptions"},"content":{"rendered":"<p><strong>Iran&#8217;s missile and drone attacks have disrupted trade through the Strait of Hormuz, a key hub for the global economy. As a result, the economic fallout from the war has spread far beyond oil and gas markets.<\/strong><\/p>\n<p> This is reported by <a href=\"https:\/\/www.washingtonpost.com\/business\/2026\/03\/08\/iran-war-economy-air-freight\/\" rel=\"nofollow noopener\" target=\"_blank\">The Washington Post<\/a> .<\/p>\n<p> Journalists note that the fighting has disrupted sea and air traffic between Asia and Europe. The closure of several international airports in the conflict zone, including Dubai, has led to the shutdown of almost 20 percent of global air cargo capacity.<\/p>\n<p> Transportation restrictions have disrupted the supply of various goods, including:<\/p>\n<ul><\/p>\n<li> consumer electronics;<\/li>\n<p><\/p>\n<li> pharmaceutical products;<\/li>\n<p><\/p>\n<li> precious metals.<\/li>\n<p><\/ul>\n<p> At the same time, the economic impact of the conflict is being felt unevenly. According to Ryan Petersen, CEO of logistics company Flexport, the cost of air freight from Asia to Europe has increased by 45 percent since the start of the war.<\/p>\n<p> &#8220;The cost of transporting goods from Asia to Europe has increased by 45 percent,&#8221; said Ryan Petersen.<\/p>\n<p> The economies of Europe and Asia are more affected due to their heavy dependence on energy imports and geographical proximity to war zones. Former International Monetary Fund chief economist Maurice Obstfeld noted that these regions are more vulnerable to the economic consequences of war.<\/p>\n<p> &#8220;Europe and Asia are heavily dependent on energy imports, so they are more vulnerable to the negative macroeconomic consequences of a war with Iran,&#8221; said Maurice Obstfeld.<\/p>\n<p> There are also serious disruptions to maritime transport. According to the service MarineTraffic, tanker traffic through the Strait of Hormuz has decreased by 90 percent compared to pre-war levels.<\/p>\n<p> Fifty-seven container ships carrying goods to the Middle East and other global markets remain blocked in the strait. Some international carriers are already rerouting or temporarily suspending new cargo bookings.<\/p>\n<p> Due to hostilities, a number of states have closed their airspace, including:<\/p>\n<ul><\/p>\n<li> United Arab Emirates;<\/li>\n<p><\/p>\n<li> Qatar;<\/li>\n<p><\/p>\n<li> Bahrain;<\/li>\n<p><\/p>\n<li> Kuwait;<\/li>\n<p><\/p>\n<li> Iraq;<\/li>\n<p><\/p>\n<li> Iran.<\/li>\n<p><\/ul>\n<p> DHL Global Forwarding CEO Oscar de Bock noted that for every week of air traffic disruption, it will take at least 1.5 weeks to restore normal operations.<\/p>\n<p> &#8220;It all depends on the stability of the situation and the number of drone attacks. This is constantly changing and we have to review plans regularly,&#8221; said Oscar de Bock.<\/p>\n<p> Rising tensions have also affected fuel prices. One European indicator of the cost of jet fuel has risen 72 percent since the start of the war.<\/p>\n<p> Economists note that further escalation of the conflict could cause new disruptions in global supply chains and further increase in transportation costs.<\/p>\n<p> By the way, on Monday, March 2, <a href=\"https:\/\/prm.ua\/tsiny-na-naftu-strimko-zrostaiut-cherez-eskalatsiiu-navkolo-iranu-shcho-prohnozuiut-analityky\/\">global oil prices rose sharply amid the escalation of the conflict over Iran<\/a> and risks to supplies through the Strait of Hormuz. The cost of the benchmark Brent grade reached its highest level since January 2025, showing the largest increase in 4 years.<\/p>\n<p data-start=\"2324\" data-end=\"2625\" data-is-last-node=\"\" data-is-only-node=\"\"> It was previously reported that <a href=\"https:\/\/prm.ua\/pislia-ataky-iranu-zupyneno-robotu-odnoho-z-naybilshykh-v-sviti-vyrobnykiv-hazu\/\">QatarEnergy, one of the world&#8217;s largest natural gas producers, completely halted production<\/a> after Iranian &#8220;Shaheed&#8221; strikes on its facilities.<\/p>\n<p><\/p>\n<p data-start=\"2324\" data-end=\"2625\" data-is-last-node=\"\" data-is-only-node=\"\"> As a reminder, <a href=\"https:\/\/prm.ua\/odyn-z-naybilshykh-npz-u-sviti-pryzupynyv-svoiu-robotu-pislia-ataky-iranu-usi-detali\/\">in Saudi Arabia, the Ras Tanura oil refinery complex of Saudi Aramco has suspended operations after an attack<\/a> . According to preliminary data, the strike on the facility was carried out by a drone.<\/p>\n<p> Also follow <strong>\u201cPryamim\u201d<\/strong> on <a href=\"https:\/\/www.facebook.com\/pryamiy\/\" target=\"_blank\" rel=\"nofollow noopener\">Facebook<\/a> , <a href=\"https:\/\/x.com\/prm_ua\" target=\"_blank\" rel=\"nofollow noopener\">X<\/a> , <a href=\"https:\/\/t.me\/+rtV4dxYu2_cyNjVi\" target=\"_blank\" rel=\"noopener nofollow\">Telegram<\/a> , and <a href=\"https:\/\/www.instagram.com\/pryamiy\/\" target=\"_blank\" rel=\"nofollow noopener\">Instagram.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Iran&#8217;s missile and drone attacks have disrupted trade through the Strait of Hormuz, a key hub for the global economy. As a result, the economic fallout from the war has spread far beyond oil and gas markets. This is reported by The Washington Post . Journalists note that the fighting has disrupted sea and air [&hellip;]<\/p>\n","protected":false},"author":54,"featured_media":1004849,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"footnotes":""},"categories":[76871,76872,76875,76892],"class_list":["post-1367037","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-2","category-news-feed","category-other-news","category-economy"],"_links":{"self":[{"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/posts\/1367037","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/users\/54"}],"replies":[{"embeddable":true,"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/comments?post=1367037"}],"version-history":[{"count":0,"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/posts\/1367037\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/media\/1004849"}],"wp:attachment":[{"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/media?parent=1367037"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/categories?post=1367037"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}