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12 stories from Planck Standard. Latest: July 9, 2026.
The International Monetary Fund cut its outlook and lifted its inflation projection to 4.7%, blaming a 25% surge in energy prices since the war began even as it flagged an offsetting boost from artificial intelligence.
Strategic petroleum reserves held by businesses and governments worldwide have fallen sharply since the U.S.-Israeli conflict with Iran began.
Worldwide millionaire population jumps 7.9% to 25.3 million as soaring equity markets boost wealth creation across major economies.
The economic fallout from the strategic waterway's blockade is spreading worldwide, with developing countries bearing the heaviest burden of shortages and rising prices.
Energy market shifts may signal broader economic concerns rather than return to stability, analysts warn.
The International Monetary Fund predicts the ongoing Iran conflict could trigger another bout of inflation while dampening worldwide economic expansion.
IMF Managing Director Kristalina Georgieva told Reuters that 'all roads now lead to higher prices and slower growth,' as the war has already triggered what she called the worst-ever disruption to global energy supply.
WTI crude hit $112.80 per barrel on April 2 as Iran's five-week blockade of the Strait of Hormuz removed 12 million barrels per day from global markets — more than two previous oil crises combined.
The International Energy Agency says the closure exceeds both 1970s oil shocks combined, with oil above $105 a barrel and gas passing $4 a gallon as 2,000 vessels sit trapped in the Persian Gulf.
WatchWith up to 20 million barrels per day cut off from global markets, the International Energy Agency has called Iran's selective chokepoint closure the most severe energy disruption ever recorded — and there is no end in sight.
The OECD's March 2026 interim outlook projects 1.2 percentage points added to global inflation, $1.72 trillion lost by America's top tech stocks, and recession risk rising if Brent crude — already up 55% since the conflict began — sustains above $140 per barrel.
A new phase targeting oil and gas facilities could hurt businesses and customers worldwide for months or years, economists warn.