News Briefings

From Oil Shock to Checkout Lines: US–Iran War Drives Global Spike in Consumer Costs

By ACoM

Briefings

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News Briefings

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Was Live Friday, Apr 17, 2026 | 11am PST

Guest Speakers

  • Dr. William O. Beeman, Professor Emeritus of Anthropology, University of Minnesota
  • Dr. Anil Deolalikar, Professor of Economics, UC Riverside, Founding Dean of the School of Public Policy at UCR
  • Dr. Ryan Nunn, Director of Research, Budget Lab at Yale

STORY

Strait of Hormuz Closure Has Wreaked Irreversible Global Damage

VIDEOS

US-Iran War Puts Lower-Income Countries at Risk for Starvation, Mass Migration

Oil Price Shocks: How Long Does It Take the Economy to Recover?

If the US Insists Iran Completely Dismantle Its Nuclear Program, Talks Will Not Go Forward

Overview

The US-Iran war has triggered a major economic shock, with oil prices surging and consumer goods disruptions rippling through global markets and supply chains, particularly for oil and goods that flow through the Strait of Hormuz. Consumers are facing much higher costs for fuel, transportation, food, and everyday goods, placing increasing pressure on households and businesses. 

Speakers this week discuss options for re-opening the Strait and ending the US blockade; unpack how the war is driving warflation, and the economic uncertainty for consumers both in the US and around the world.

Presented by ACoM

Cover Image Credit: Canva Photos