Iran war's oil shock threatens to unleash wave of global inflation

By Ziad Daoud, Dina Esfandiary, Jamie Rush, Jennifer Welch, and Tom Orlik Bloomberg News Tuesday, March 3, 2026 President Donald Trump's war with Iran threatens to deal a severe blow to a global economy still grappling with the impact of his historic tariff hike. For Europe, sustained higher energy prices would take the economy to the brink of recession. For the United States, they would place the Federal Reserve in an impossible position -- stuck between a war that pushes inflation higher and a president demanding that interest rates come down. For China, the end of discounted Iranian oil imports adds to strain from Trump's tariffs and a real estate collapse. ... Dispatch continues below ... ... ADVERTISEMENT ... Ireland's Tree of Life Gold and Silver Coins Are Available from Money Metals Exchange For Delivery or Secure Storage in Idaho Money Metals Exchange and Tara Coins, supporters of sound money and GATA, are selling Ireland's Tree of Life Gold and Silver Coins, non-legal tender, for U.S. and international delivery or secure storage in the ultra-secure MMX vault in Eagle, Idaho: https://www.moneymetals.com/taracoins The Gold and Silver Trees of Life can be bought directly by retail stackers, retail distributors, and wholesale dealers. The Gold Trees (.9999 purity) are in 1-ounce, 0.25-ounce, and 0.1-ounce sizes, and the Silver Trees (.999 purity) in 1-ounce size. All are approved for individual retirement accounts. Tara Coins is a designer, wholesaler, and retailer of Irish bullion products, selling beautiful, store-of-value, 99.99% pure Irish silver and gold bullion. The Gold Trees of Life are the first 99.99%-pure Irish bullion coins and are beautiful and truly sovereign (non-legal tender) coins. For more information, visit Ireland Trees of Life at Money Metals Exchange -- https://www.moneymetals.com/search?q=tree+of+life -- or contact Shane Lee at [email protected] or 1-800-800-1865. In the first days of the fighting, the intensity is high and the endgame uncertain. Bloomberg Economics has modeled scenarios for what lies ahead, and what they mean for oil prices, major economies, and the future of Iran. ... ... For the remainder of the report: https://www.bloomberg.com/news/features/2026-03-03/iran-war-oil-price-surge-put-global-economic-recovery-at-risk * * * Support GATA by purchasing Stuart Englert's "Rigged" "Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon: https://tinyurl.com/3xt6uw66 * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16 Donations of $500 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work: https://www.gata.org/sites/default/files/GATA-silver-round-front.png