Surging oil prices continue to ripple through the global economy due to the war with Iran. Now, some analysts are saying the worst could still be ahead as the conflict drags on.
The concern is that beyond immediate knock-on effects from rising gasoline prices, the war’s disruption could come in waves — ones that will play out over weeks and months and leave few parts of the global economy untouched.
“We haven’t seen the brunt of it yet,” said Samantha Gross, director of energy security and climate at the Brookings Institute. “I feel like markets are so far underestimating the effect of the war. It seems that they expect this war to go quickly, and they expect that we can go back to the world before when it’s over. And I don’t think either of those ideas is true.”
The warning signs are already here. The global oil price benchmark, Brent crude
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