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Iran Conflict Drives Oil Prices, Fuels Global Inflation Rise

3/16/2026

35 3 Full Breakdown

Summary

Story summary

Goldman Sachs says the Iran conflict is driving an oil price surge, with Brent crude near $105 per barrel.
Goldman Sachs projects global inflation will rise 0.5 to 0.6 percentage points, concentrated in energy.
Non-energy trade with Gulf economies accounts for about 1% of global trade, limiting ripple effects.
Goldman Sachs forecasts global GDP to fall 0.3 percentage points, from 2.9% to 2.6%.

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Story summary

Goldman Sachs says the Iran conflict is driving an oil price surge, with Brent crude near $105 per barrel.
Goldman Sachs projects global inflation will rise 0.5 to 0.6 percentage points, concentrated in energy.
Non-energy trade with Gulf economies accounts for about 1% of global trade, limiting ripple effects.
Goldman Sachs forecasts global GDP to fall 0.3 percentage points, from 2.9% to 2.6%.