Last updated: March 14, 2026
Live coverage from CNN, BBC, Al Jazeera, Reuters, CNBC, and other major outlets -- focused on how the Iran conflict affects your daily life.
Building materials are facing price surges as the Iran war disrupts energy and shipping. The Gulf produces 9% of global primary aluminum. Copper (42% used in U.S. construction) faces supply disruption from sulfur shortages. Developers may delay or cancel projects, reducing new housing supply.
Read full article on Baker Donelson →More than one-third of globally traded fertilizer passes through the Strait of Hormuz, now blocked. Gulf states produce 49% of the world's urea. Economists estimate food-at-home inflation could rise 2 percentage points, adding $50-80/month to average grocery bills.
Read full article on Axios →The national average for regular gasoline hit $3.58/gallon on March 12, up from $2.98 before the war -- a 20% increase in just two weeks. Diesel reached $4.86/gallon. California prices are even higher, with some stations in San Francisco charging $6.50/gallon. Analysts warn prices could reach $4-5 nationally if the Strait of Hormuz remains disrupted.
Read full article on CNBC →Economists warn grocery shoppers will soon feel the impact of surging oil prices. Fresh foods that require quick transportation -- produce, meat, and dairy -- will see price increases first. U.S. oil prices have increased roughly 42% from pre-war levels to about $95/barrel, which could push overall inflation from 2.4% to 3% or higher. Packaged foods are less immediately affected but will follow if oil stays elevated beyond a month.
Read full article on CNN →Qatar produces approximately 40% of the world's helium supply, which is critical for semiconductor manufacturing. The war's disruption to Gulf shipping lanes threatens this supply chain. Helium is used in chip fabrication, MRI machines, and scientific research. A prolonged disruption could create semiconductor shortages affecting electronics, cars, and medical equipment -- reminiscent of the 2020-2022 chip crisis.
Read full article on Chatham House →Insurance premiums for vessels transiting the Strait of Hormuz have surged fivefold, with some insurers cancelling war-risk coverage entirely. Marine hull insurance in the Gulf could rise 25-50%. VLCC freight rates hit $423,736/day -- up 94% in a single session.
Read full article on Seoul Economic Daily →The average 30-year fixed mortgage rate climbed to 6.11% in the week ending March 12, according to Freddie Mac. Just two weeks ago, rates had dipped below 6% for the first time since 2022. The reversal is driven by inflation fears from surging oil prices. A prolonged conflict could push rates even higher, while a short-lived war could see rates retreat.
Read full article on CNN →US Energy Secretary Chris Wright said the Navy may begin escorting commercial ships through the Strait of Hormuz by end of March. G7 nations agreed to explore joint convoy operations. If successful, this could ease oil supply disruptions and lower prices.
Read full article on CBS News →Multiple economists are warning that the Iran war has significantly increased U.S. recession risk. KPMG warns of an economic 'butterfly effect' that could keep inflation elevated for years. GDP growth could dip below 2% in the second half of 2026. The combination of high energy prices, rising consumer costs, and stagnant wages raises the specter of stagflation -- stagnant growth paired with high inflation.
Read full article on Fortune →CNBC reports that retail prices across electronics, clothing, furniture, and consumer goods are expected to increase 3-8% as shipping reroutes around the Cape of Good Hope add weeks and millions per voyage. Third-party sellers on Amazon are already raising prices.
Read full article on CNBC →CNBC reports retail prices for consumer goods are at risk as the Strait of Hormuz closure disrupts shipping of petrochemicals used in plastics, pharmaceuticals, and packaging. Retailers are already seeing higher transportation costs that will flow through to shelf prices.
Read full article on CNBC →Jet fuel prices surged from $85-90/barrel to $150-200/barrel since the war began. Hong Kong Airlines raised fuel surcharges 35.2%. European and US carrier stocks fell 4-6%. Passengers face both higher prices and fewer route options as Middle East airspace remains closed.
Read full article on Al Jazeera →Bitcoin has gained about 7% since the Iran conflict escalated on Feb. 28, outperforming the S&P 500, Nasdaq 100, gold, and silver. BTC holds steady near $70,000 even as oil surges, though crypto sentiment remains in 'extreme fear' territory with negative funding rates since early March.
Read full article on CoinDesk →European natural gas and energy prices are climbing as the Iran conflict disrupts Middle Eastern supply routes. Analysts say a Ukraine-style energy shock could still be avoided if disruptions remain limited.
Read full article on CNBC →As gas hits $3.57/gallon, drivers are reconsidering electric vehicles. EV owners report being 'largely unaffected' by oil price shocks since residential electricity prices are regulated and much less volatile. One EV owner wrote: 'I'm sure glad I bought an EV and solar panels.'
Read full article on Orlando Sentinel →The Strait of Hormuz closure is disrupting roughly one-third of globally traded fertilizer at the start of Northern Hemisphere spring planting. With no strategic fertilizer reserve, experts warn this could trigger grocery supply shortages within three weeks and push food prices significantly higher for months to come.
Read full article on CNBC →Average US gasoline prices hit $3.54/gallon, up over 17% since strikes began on Feb. 28. California surged past $5/gallon. Analysts warn further increases are likely if the Strait of Hormuz remains closed.
Read full article on The Hill →Heating oil prices surged 19% to $5.09 per gallon, the highest in years. In Massachusetts, 23 community action agencies warned that tens of thousands of households may not be able to heat their homes for the rest of winter, with 80% of oil-heated homes running out or running low.
Read full article on Bloomberg →Iran's newly appointed supreme leader made his first public address, vowing to maintain the closure of the Strait of Hormuz as leverage against the US-Israeli military campaign. The closure continues to disrupt 20% of global oil supply, keeping prices above $100/barrel.
Read full article on NPR →The average 30-year fixed mortgage rate rose to 6.11%, reversing weeks of progress that had seen rates fall below 6% for the first time since 2022. One in four Americans is now delaying home or car purchases due to war concerns, threatening the spring home buying season.
Read full article on CNN Business →Brent crude settled at $100/barrel for the first time since 2022 as the Strait of Hormuz remains effectively closed. The Dow fell 575 points (1.2%), Nasdaq dropped 1.4%, and South Korea's KOSPI suffered its biggest crash since 2008, plunging 12% in a single day. Economists warn recession risk is rising.
Read full article on Fortune →A Redfin survey shows 25% of U.S. consumers are delaying or canceling major purchases amid the Iran war, though 56% report no impact on their spending plans. The housing market faces particular headwinds as mortgage rates climb to 6.11%, the largest weekly gain since April 2025.
Read full article on Scotsman Guide →President Trump said the war with Iran may end 'soon,' while Israeli Defence Minister Katz said the timeline is open-ended. Iran set three conditions for peace: compensation for damage, firm guarantees against future attacks, and sanctions relief.
Read full article on Al Jazeera →The International Energy Agency agreed to release 400 million barrels from strategic reserves -- the largest such action in history. The US will contribute 172 million barrels from the Strategic Petroleum Reserve. However, analysts say this only covers about 20 days of lost supply from the Strait of Hormuz blockade, and full delivery will take approximately 120 days.
Read full article on CNBC →The February consumer price index rose 0.3% month-over-month and 2.4% year-over-year -- reflecting data collected before the Iran war began on Feb 28. Food costs rose faster at 3.1% annually. Economists warn the March report could show inflation spiking to 3%+ as gas prices, heating oil, and shipping costs surge.
Read full article on NBC News →Iran's Revolutionary Guard Corps stated that 'not one litre of oil' would pass through the Strait of Hormuz while military operations continue, escalating economic pressure on global markets.
Read full article on Al Jazeera →Iranian threat group Handala claimed a retaliatory cyberattack on Stryker, one of the largest U.S. medical device makers, affecting 200,000 systems across 79 countries. The group says it extracted 50 terabytes of data. CISA has launched an investigation. The attack represents the first significant Iranian cyberattack on a U.S. company since the war began.
Read full article on CNN →The World Travel & Tourism Council estimates the Iran war is costing Middle East travel and tourism at least $800 million per day in lost international visitor spending. Over 46,000 flights have been canceled since Feb 28, stranding more than 1 million people worldwide. Jet fuel prices surged 60%.
Read full article on Travel Market Report →The World Health Organization confirmed the conflict has caused 11 healthcare worker deaths and 55 injuries, with 29 clinical facilities damaged and 10 now inactive. Dubai's global humanitarian supply hub is paralyzed, disrupting medicine distribution worldwide. At least 18 attacks on healthcare verified.
Read full article on WHO →CNBC reports that economists warn the oil price shock from the Iran war could wipe out recent gains in consumer purchasing power, with inflation expected to accelerate and consumer spending to slow.
Read full article on CNBC →Approximately 15,000 cruise passengers are stuck in the Gulf region after MSC, TUI, Celestyal, and AROYA suspended sailings. MSC's 6,300-passenger Euribia was stranded in Dubai, with charter flights organized to bring guests home. All affected passengers are being offered full refunds or future cruise credits.
Read full article on Euronews →Diesel prices surged 28% to $4.83/gallon since the war started, with one trucker paying $642 for 100 gallons. Small carriers and owner-operators are barely breaking even. Farmers heading into spring planting face diesel costs that threaten to make crop production unprofitable.
Read full article on Washington Post →Rising transportation and energy costs from the oil price spike are expected to flow through to food prices over the coming weeks, with economists projecting 5-15% increases.
Read full article on Al Jazeera →National average gasoline price has risen to approximately $3.45/gallon, up about 50 cents since strikes began. California drivers paying over $5/gallon as state relies on imported gasoline.
Read full article on PBS News →The Iran war's disruption to Gulf LPG supplies has created a crisis for India's restaurant industry, where 90% of establishments rely on LPG cylinders. The National Restaurant Association of India warns of widespread closures affecting 8 million workers in a $78.9 billion industry.
Read full article on CNBC →Jet fuel prices rose from $2.11/gallon at the start of 2026 to $3.40 by March 10 -- a gain of more than 60% -- after tanker traffic through the Strait of Hormuz came to a virtual halt. Airlines are raising fares, cutting routes, and scrambling to find alternative paths around closed Middle East airspace.
Read full article on Fortune →CNN reports the Iran war has increased recession risk as the economy was already vulnerable before the Middle East chaos. Oxford Economics calls it one of the most significant global economic disruptions in decades. The longer the Strait of Hormuz remains blocked, the greater the danger.
Read full article on CNN Business →South Korea's KOSPI index plunged up to 12% in a single day, its biggest crash since the 2008 financial crisis, as Iran war fears sent shockwaves through global markets. World shares tumbled broadly, with the Dow falling nearly 800 points as the conflict spilled beyond the Middle East.
Read full article on NPR →The State Department issued Level 4 'Do Not Travel' warnings for 14+ countries and urged immediate departure. The military is offering C-17 cargo plane seats after criticism that the initial response was disorganized and left hundreds of thousands stranded with limited escape options.
Read full article on Military.com →The Dow Jones fell over 400 points in the first trading day after strikes began. Oil companies and defense contractors rose while airlines and consumer stocks fell.
Read full article on CNN Business →Get free weekly updates on how the Iran war affects gas prices, groceries, and your wallet.
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