How the attack on Iran could impact the global oil market and economy

• The U.S.-Israeli attack on Iran raises the risk that the Islamic Republic could try to make the Strait of Hormuz unsafe for commercial traffic in retaliation.
• About a third of seaborne oil exports and 20% of liquid natural gas exports pass through the strait. Those exports go mostly to big Asian economies like China.
• A prolonged closure of the Strait could tip the global economy into a recession.

Source: https://www.cnbc.com/2026/02/28/iran-us-attack-oil-market-economy.html