The US and Israeli war with Iran has expanded across the Gulf. Iran has effectively shuttered the Strait of Hormuz, sending the prices of oil and liquefied natural gas way up. The economic realities of the conflict could pose a problem for President Donald Trump, who was elected in part because of his promise to make life more affordable for Americans. The FT’s Myles McCormick and Sam Fleming explain what consequences the war against Iran will have for the global economy.

Mentioned in this podcast:

Donald Trump’s Iran war tests US voters’ patience as petrol prices rise

Which leading economies will pay the biggest price for the Iran war?

Swamp Notes is hosted by Marc Filippino and produced by Henry Larson. This week’s show was mixed by Sam Giovinco. Our executive producer is Topher Forhecz and the FT’s global head of audio is Cheryl Brumley. Special thanks to Pierre Nicholson.

The FT does not use generative AI to voice its podcasts.

CREDIT: Reuters, Associated Press, CNBC, CNN

Read a transcript of this episode on FT.com

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