Iran War Drives Oil Spikes and Global Recession Risks
Key Questions
How has the Iran war affected oil prices?
Hormuz chaos spiked oil to a $120 peak, now at $95-105. US gas prices exceed $4.16 per gallon.
What are the global economic impacts?
The IMF cut growth forecasts by 2-2.5%, with EU facing stagflation risks. Russia benefits with a +94% boom.
How is China responding to energy disruptions?
China faces energy import risks from the US-Iran conflict and is increasing mediation efforts. The Philippines has declared an energy emergency.
Hormuz chaos spikes oil to $120 peak/now $95-105 mixed, US gas $4.16+; IMF cuts growth 2-2.5%, EU stagflation. Russia booms +94%; China mediation/energy pinch, Philippines emergency. Hedge energy/shipping, EM hits.
Sources (2)
Updated Apr 15, 2026