Oil shock risk climbs as Iran conflict drags on, threatening global growth

Surging oil prices tied to the Iran war threaten a broader global economic spillover as supply chokepoints and energy‑infrastructure damage drag on for months. Brent crude briefly hit near $119 a barrel and settled around $113, with analysts warning prices could climb further if the conflict persists, worsening costs for transport and manufacturers and pushing inflation higher. While the U.S. economy is relatively insulated by domestic production, a sustained disruption could erode global demand and shave households’ disposable income, potentially pushing inflation toward the Fed’s 3% target and triggering a broader growth scare.