Simon Mabon, professor at Lancaster University, said the economic fallout from the Iran war is spreading globally and is increasing domestic and international pressure on US President Trump ahead of the midterms amid rising inflation. He said the shock is tightening the global economy beyond oil and diesel — hitting fertilizer markets and global shipping routes — and warned any goods transiting the Strait of Hormuz will be affected, with higher transport costs and insurance premiums ultimately p

Simon Mabon, professor at Lancaster University, said the economic fallout from the Iran war is spreading globally and is increasing domestic and international pressure on US President Trump ahead of the midterms amid rising inflation. He said the shock is tightening the global economy beyond oil and diesel — hitting fertilizer markets and global shipping routes — and warned any goods transiting the Strait of Hormuz will be affected, with higher transport costs and insurance premiums ultimately passed to end users.