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The ongoing conflict between Iran and the US-Israeli alliance has sent shockwaves through global oil markets, with Brent crude prices surging 5% to $106.16 per barrel on Thursday morning. Despite being heavily reliant on Iranian oil, China appears to have largely insulated itself from the crisis.China's strategy involves utilizing 'teapot refineries,' small, privately owned oil refineries primarily based in Shandong province. These facilities have been importing discounted Iranian and Russian oil, accounting for one-quarter of China's processing capacity. This approach allows China to circumvent US sanctions and maintain a stable oil supply.China's teapot refineries have been stockpiling oil reserves, providing a buffer against potential supply disruptions. According to Muyu Xu, a senior crude oil analyst at Kpler, China's seaborne crude imports in March stood at 10.19 million barrels per day (mbd), down from 11.51mbd in February but still in line with the 2025 average of 10.41mbd.The US has previously imposed sanctions on some of these teapot refineries for importing Iranian oil. However, China's tolerance of this independent system has proved strategically useful, allowing the country to maintain a flexible buffer for bargain barrels during crises.Experts note that while China's measures will not completely immunize the country from rising fuel prices, they do provide Beijing with more flexibility to survive a crisis compared with other nations. China's approach involves aggressive stockpiling, tolerating shadow networks, and keeping flexible buffers, demonstrating its preparedness for energy shocks.

The ongoing war in Iran has ignited a fresh oil supply shock, sending crude prices soaring and rippling through economies worldwide. Analysts note that the conflict’s persistence is tightening global oil flows, prompting immediate spikes in gasoline, diesel, and jet fuel costs. Energy traders report that the heightened uncertainty has amplified market volatility, with benchmark crude benchmarks climbing to levels not seen in months. The price surge is pressuring both consumers and businesses, as higher fuel costs translate into increased transportation expenses and broader inflationary pressures. Governments and central banks are now monitoring the situation closely, aware that sustained higher oil prices could erode economic growth and strain household budgets, especially in regions heavily dependent on imported energy. While the full economic impact remains to be quantified, the consensus among experts is clear: the prolonged Iran war is reshaping the global energy landscape, underscoring the fragility of supply chains and the need for diversified energy strategies.

The ongoing conflict between the US and Israel against Iran has significantly impacted global oil supplies, causing prices to surge. Despite this, US President Donald Trump claims that the US is 'totally independent' of the Middle East and doesn't need their oil. However, experts argue that the oil market is highly interconnected, making it unlikely that the US can escape the effects of the crisis.The US is a major oil producer, having surpassed other countries due to the fracking boom. Yet, it still imports millions of barrels per day, with a significant portion coming from Gulf nations. This reliance on imports means that the US is not as insulated from global price trends as Trump suggests.Oil prices have risen by nearly half since the start of the war, with Brent crude trading above $100 per barrel. This increase has had a ripple effect on the global economy, with US fuel prices breaching $4 per gallon for the first time since 2022. The surge in fuel costs is likely to impact the US economy and may influence the midterm elections.Experts warn that the concept of 'energy independence' may be a 'smokescreen' and that low-income households will be disproportionately affected by higher fuel prices. While some sectors of the US economy, such as energy production, may benefit from the current situation, the overall impact on consumers is expected to be negative.The article also highlights the broader implications of the conflict, including disruptions to global fertilizer supplies and helium production. With the Strait of Hormuz remaining paralyzed, the effects of the crisis are likely to be prolonged, and experts are skeptical that fuel prices will quickly return to normal even if the conflict ends soon.

Los Angeles residents are feeling the strain of soaring gas prices, with some stations charging as high as $8 a gallon. The Iran war has created the largest supply disruption in the history of the global oil market, according to the International Energy Agency, contributing to the price surge.For Jack Nooney, a musician and grocery deli employee, the daily commute from his San Fernando Valley apartment to Santa Monica has become a costly affair. To save gas, Nooney has started shifting his manual transmission into neutral and coasting down steep declines on the I-405. He also scouts for the best gas prices and prefers stations near his home.The impact of high gas prices is being felt across various industries. Chris Hardin, a music manager, says his clients are struggling with the increased costs, especially those who rely on touring. Hardin has started taking his motorcycle to work multiple times a week to save fuel.Professional drivers, however, have limited options. Jenise Blanc, owner of LA's Canyon Car Service, is absorbing the increased costs, but may be forced to re-evaluate her pricing strategy if the situation doesn't improve. Electric vehicles are becoming a more viable option, with Blanc's company now leaning into its two electric cars.The rising gas prices are also affecting small businesses, with Blanc noting that it's tough to pass on the increased costs to customers without risking a loss of business. As the situation continues, residents and businesses are looking for ways to adapt and mitigate the impact of high fuel costs.

According to a new United Nations Food and Agriculture Organization (FAO) briefing, the global food commodity price index climbed 2.4% in March, marking the second straight monthly increase and the first rise in five months for the broader basket of grains, meat, dairy, vegetable oils and sugar.The surge is largely attributed to the escalating conflict in the Middle East, which has pushed up energy prices and freight rates worldwide. The report highlighted that vegetable oil prices jumped 5% and sugar rose 7% during the month.Analysts warn that the war could trigger a broader wave of food inflation, as higher fuel, fertiliser and electricity costs increase the expense of transporting, processing and cooking food. About one‑third of global fertiliser production passes through the Strait of Hormuz, a key shipping lane that has been effectively closed since hostilities began.UN projections suggest that, if the crisis endures, global food prices could be 15%–20% higher in the first half of 2026 than pre‑conflict levels. The FAO noted that “price indices across all commodity groups rose to varying degrees, reflecting both market fundamentals and responses to higher energy prices linked to the conflict escalation in the Near East.”Specific commodity trends showed global wheat prices up 4.3% in March, driven by deteriorating crop conditions and drought concerns in the United States, as well as reduced planting in Australia due to soaring fertiliser costs. Better weather in Europe and strong export competition provided some offset.In the United Kingdom, the Food and Drink Federation – representing 12,000 manufacturers – now forecasts a **minimum 9% rise in food prices by the end of 2026**, a sharp increase from the 3.2% forecast made before the Middle East conflict. This outlook assumes the Strait of Hormuz reopens within weeks and that major energy facilities return to normal within a year – both uncertain outcomes.British producers are already feeling the pressure. The British Tomato Growers’ Association warned that consumers could see higher prices for tomatoes, peppers and cucumbers within six weeks as gas‑heated glasshouses become more expensive to run.Chancellor Rachel Reeves recently met with leaders of major retailers—including Tesco, Sainsbury’s, Morrisons, Marks & Spencer, Aldi and Lidl—to discuss measures that could ease the cost‑of‑living squeeze and strengthen supply chains.Nevertheless, a Bank of England survey of over 2,000 chief financial officers revealed that firms expect to raise their prices by an average of 3.7% over the next year, up from 3.4% in February. Expectations for overall economy‑wide inflation also rose from 3% to 3.5%.

Recent maritime traffic reports confirm that vessels heading to Pakistan have passed through the Strait of Hormuz, one of the world’s most crucial chokepoints for oil and cargo shipments.The transit underscores the strait’s importance for Pakistan’s trade routes, linking the nation’s ports with markets in the Gulf, Europe and beyond. Maintaining open and secure passage through this narrow passage remains essential for the stability of regional and global supply chains.

The United States has a long history of threatening to carpet bomb countries, with President Donald Trump recently warning Iran that he would bomb the country 'back to the stone ages.' This rhetoric is not new, as US leaders have made similar threats in the past.During his prime-time address to the nation, Trump said, referring to Iran: 'We are going to hit them extremely hard over the next two to three weeks, we're going to bring them back to the stone ages, where they belong.' Trump also said 'discussions are ongoing,' adding that the conflict could end over the same period.The current war on Iran began on February 28 when the US and Israel launched their attacks. Tehran hit back, targeting Israel and Gulf countries. More than 2,000 Iranians have been killed in the war so far. Thousands of civilian sites, including hospitals, schools, universities, and pharmaceutical factories, have been attacked by Israel and the US.Janina Dill, a global security professor at the University of Oxford, told Al Jazeera that if Trump's 'stone ages' threat implies that the US will destroy structures and buildings that characterise a modern society, 'then this would be illegal because it implies directing attacks against civilian objects.'The phrase 'bombing back to the stone ages' is widely associated with US Air Force officer Curtis LeMay, in the context of US threats against North Vietnam in LeMay's 1965 book, Mission with LeMay. LeMay wrote: 'We're going to bomb them back into the Stone Age.'The US carried out intensive bombing in South Vietnam, as well as in Cambodia and Laos, claiming to target enemy bases and supply routes. Overall, millions of Vietnamese soldiers and civilians were killed or wounded in the war.In January 1991, the US led a global coalition to force out Iraqi forces from Kuwait. Former US Secretary of State James Baker threatened that the US would bomb Iraq 'back to the Stone Age' if it did not withdraw from Kuwait.During World War II, the US carpet bombed Japanese cities, as well as cities in Asia that were controlled by Japanese forces. During the Korean War, the US carried out heavy bombing in North Korea, which some officials said destroyed almost every town.

The UK is leading a coalition of approximately 40 nations in virtual talks to address the ongoing blockade of the Strait of Hormuz by Iran. The waterway, crucial for global energy supply, has been blocked since the US and Israel initiated a war on Iran on February 28.The blockade has had severe economic repercussions, causing global oil prices to skyrocket above $100 per barrel, a roughly 40% increase from pre-war levels. This surge has forced countries, particularly in Asia, to implement fuel rationing and reduce industrial production. For instance, Malaysia has ordered all civil servants to work from home to conserve energy.The US has opted out of these talks, with President Donald Trump stating it's not the US's responsibility to reopen the strait, suggesting that European countries should secure their own oil. In response, UK Prime Minister Keir Starmer is chairing a video conference with over 40 countries, including France, the Netherlands, Germany, Italy, Canada, Australia, and the United Arab Emirates.The meeting's agenda includes assessing diplomatic and political measures to restore freedom of navigation, ensure the safety of trapped ships and seafarers, and resume the movement of vital commodities. The UK government has also outlined plans to clear the strait of landmines and protect tankers crossing the area.Experts suggest that while the coalition's efforts are crucial, the blockade's resolution is uncertain without an arrangement with Iran. Iran has demanded international recognition of its authority over the Strait of Hormuz as one of its conditions for a ceasefire. The country's parliament is also considering legislation to collect tolls from ships transiting the strait.Analysts argue that reopening the strait by force would require US and European allies to collaborate. However, under current circumstances, the coalition's success seems doubtful unless a negotiated arrangement with Iran is reached.

Ramesh Kumar, a 42‑year‑old wheat farmer in Gurdaspur, Punjab, India, is already recalculating his budget as fertiliser prices climb and deliveries become erratic.He worries that higher input costs could force him to postpone his daughter’s wedding, delay school fees for his children, or even cut back on the amount of fertiliser he applies – a decision that could lower his harvest.While the conflict between the United States, Israel and Iran unfolds thousands of kilometres away, its ripple effects are felt in the fields of Punjab, Kashmir, Pakistan’s South Punjab, Bangladesh’s Rangpur and Nepal’s Gulmi district.The Strait of Hormuz, a narrow chokepoint linking Gulf oil and gas producers to global markets, handles roughly one‑fifth of the world’s oil and LNG shipments. Disruptions here delay the flow of natural gas used to produce nitrogen‑based fertilisers, inflating freight, insurance and ultimately fertiliser prices.South Asia, home to nearly two billion people, depends heavily on fertiliser‑intensive agriculture. In India, the sector is worth about $400 billion and employs over 46 % of the workforce; in Pakistan, it contributes close to 20 % of GDP; Bangladesh’s agriculture accounts for 12‑13 % of GDP; and Nepal relies on agriculture for roughly 24 % of its economy.Between 30 % and 35 % of India’s fertiliser imports, and up to 25‑30 % of Pakistan’s, Bangladesh’s, and Nepal’s imports, travel through routes that pass the Strait of Hormuz. Any prolonged blockage could therefore strain supply chains across the region.Governments are attempting to reassure farmers. Indian Prime Minister Narendra Modi announced expanded domestic production of urea, DAP and NPK, as well as the rollout of “Made‑in‑India Nano Urea” and solar‑powered irrigation under the PM Kusum scheme.Pakistan’s federal secretary for agriculture highlighted proactive monitoring, increased domestic urea and DAP output, and measures to keep fertiliser affordable.Bangladesh plans to import 500,000 tonnes of urea in the short term and is exploring alternative sources from China and Morocco, while Nepal’s agriculture ministry says supplies for the upcoming rainy season are secured, though it warns of possible shipment delays.On the ground, farmers are already adjusting. In Kashmir, mustard grower Ghulam Rasool says he reduces fertiliser use as soon as price signals rise, even before actual shortages appear. In Pakistan’s South Punjab, wheat farmer Muneer Ahmad fears higher costs will affect the entire community. In Bangladesh, Mohammad Ibrahim notes that fertiliser availability is becoming unpredictable, and in Nepal, Meghnath Aryal worries that delayed deliveries will hurt crop yields.These individual decisions have broader implications. Reduced fertiliser application can lower yields, which in turn pushes up food prices—a critical concern in a region where households allocate a large share of income to food.While no immediate shortage has been declared, the combination of higher global energy prices, logistical bottlenecks and geopolitical risk makes the situation volatile. Authorities in all four countries are urging farmers to supplement chemical inputs with organic alternatives such as manure, compost and green manuring.For Ramesh Kumar and millions of his peers, the distant Gulf crisis is not an abstract geopolitical story; it is a daily calculation of whether they can afford to feed their families and meet essential expenses.