How a Persian Gulf Conflict Could Impact Commodities Markets
- Oil prices to spike, but liquefied natural gas may rise more
- Lengthy conflict could accelerate move away from fossil fuels
Storage tanks for petrochemicals stand beside the Persian Gulf in Asaluyeh, Iran.
Photographer: Ali Mohammadi/BloombergThis article is for subscribers only.
Surging oil and gas prices, skyrocketing insurance costs and attacks on energy and banking infrastructure are likely to follow quickly if Iran’s interception of two U.K.-linked tankers spirals into outright war.
A lengthy conflict in the Persian Gulf could help tip the U.S. and global economies into recession and even accelerate the worldwide move away from fossil fuels. Here’s what some top oil, commodity and geopolitical analysts see as the most likely outcomes.