The reports of attacks on commercial ships came after the US said it "eliminated" 16 Iranian mine-layers in the area. Elsewhere, two drones were downed near Dubai airport.

It is not the same as the post-pandemic Russian invasion of Ukraine, since that shock elevated demand alongside reduced energy supplies. A pure supply shock, being itself a hit to global GDP, weakens ...

How the Iran-US war could affect cost of living in the UK – from energy bills to petrol and groceries - The impacts of the conflict have been compared to Russia’s war on Ukraine, which pushed prices u ...