Back to today’s briefing

Story perspectives

Middle East Conflict Threatens Global Economy and Peace

3/13/2026

27 2

Summary

Story summary

The war in the Middle East is harming the global economy as Iran's closure of the Strait of Hormuz drives oil prices higher.
The United Nations Security Council condemned Iran for attacks on U.S. allies, but did not address actions by U.S. President Donald Trump and Prime Minister Benjamin Netanyahu's government that fueled conflict.
Economist Jeffrey Sachs criticized the situation as irrational and warned it could spark a world war.

1 of 1

Story summary

The war in the Middle East is harming the global economy as Iran's closure of the Strait of Hormuz drives oil prices higher.
The United Nations Security Council condemned Iran for attacks on U.S. allies, but did not address actions by U.S. President Donald Trump and Prime Minister Benjamin Netanyahu's government that fueled conflict.
Economist Jeffrey Sachs criticized the situation as irrational and warned it could spark a world war.