Global Supply Chains Shake

(MENAFN) The recent US-Israeli confrontation with Iran has provoked an immediate disturbance in worldwide supply chains over the last month, triggering notable instability in energy and commodity markets.

Iran’s blockade of the Strait of Hormuz, coupled with its retaliatory strikes across the Gulf region, has severely disrupted international markets.

Following the onset of the conflict, global crude oil prices jumped by more than 40%, while prices for fertilizers and natural gas also experienced substantial increases.

In the United States, the average retail gasoline price rose roughly 36%, or around $1.06 per gallon, during the four weeks after the conflict began. The national average for a gallon of gasoline climbed to $4.1, compared to $2.98 just a month prior.

Diesel prices experienced an even steeper surge, fueled by interruptions in maritime shipping lanes, rising by 46% to $5.5 per gallon. Fuel costs differ across states, with California registering the highest prices and Oklahoma the lowest.

Addressing the situation, President Donald Trump remarked on Thursday: "Many Americans have been concerned to see the recent rise in gasoline prices here at home."

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