Iran crisis threatens global economies and skyrockets oil prices

Mar 9, 2026, 1:00 AM130

(Update: Mar 13, 2026, 5:45 PM)

Iranian rial

currency of Iran

Great Britain

constitutional monarchy in Western Europe (1707–1800)

Strait of Hormuz

strait between the Gulf of Oman and the Persian Gulf

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Iran crisis threatens global economies and skyrockets oil prices

Airstrikes on Iranian oil depots have caused significant disruptions in oil supply.
Qatar's energy minister predicts oil prices could soar to $150 per barrel due to the crisis.
Global economies may face severe consequences as energy prices continue to rise.

Iranian rial

currency of Iran

Great Britain

constitutional monarchy in Western Europe (1707–1800)

Strait of Hormuz

strait between the Gulf of Oman and the Persian Gulf

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