The continued closure of the Strait of Hormuz is raising alarms about global food security, with warnings that millions could face hunger. U.S. farmers are already struggling with unaffordable fertilizer, highlighting the severe economic impact.
The Trump administration is actively working to secure alternative fertilizer supplies for U.S. farmers, citing ongoing conflict with Iran as the reason for the initiative.
A survey reveals that nearly 60% of U.S. farmers report their financial situation is deteriorating due primarily to increasing fertilizer and fuel costs, which could lead to reduced crop yields.
Global recession warnings intensify as the Iran War drives Brent crude above $100 per barrel, causing significant market volatility and prompting India to fast-track oil and LPG import deals amid Middle East supply shocks. Airlines are raising fares due to spiking jet fuel prices and tightening supplies, while investors closely watch the volatile oil market reacting to every change and lingering risks of a prolonged US-Iran conflict.