As of March 23rd, 2026, the Iranian conflict has reached its 24th day of war. Although there have been rumors of an end in sight, civilians are still at risk, and the global economy is struggling as oil prices continue to surge.
The war began on February 28th when the U.S. military forces launched air strikes on Iranian cities, killing Iran’s supreme leader. The death toll from this conflict has been hard to measure, but current governmental estimates list over 3,000 casualties. Although it is less worrisome than the mass loss of human life, economists warn that the global economy is at approximately 50% risk of falling into a recession.
President Trump launched the military attacks nearly a month ago as an effort to destroy Iranian nuclear missile sites and force them into a contract on a weapon agreement. Israel played an equal part in launching the attacks, reflecting the long-term military alliance between Israel and the U.S., where the presence of Iranian nuclear missiles has been thought to threaten the existence of both the U.S. and Israel. To read more about how and why the war started, News Editor Kara Hopkins reports the information in the March 12th publication of the Brackety-Ack.
On March 21st, President Trump issued a 48-hour ultimatum to Iran, asking them to reopen the Strait of Hormuz that connects the Persian Gulf to the Gulf of Oman, or face the destruction of their power plants. As of March 23rd, Trump has postponed this ultimatum due to alleged recent peace talks between the U.S. and Iran. On the other hand, Israel’s leader, Benjamin Netanyahu, says that Israel “won’t stop” their attacks on Iran, even as the U.S. considers a ceasefire, according to CBS News.
The Strait of Hormuz is one of the world’s most crucial pathways for transporting oil. It is reported that 20% of the world’s oil consumption is transported through the Strait, along with over 20% of the world’s liquified natural gas, according to the U.S. Energy Information Administration. If gas can’t reach other countries, the entire global economy suffers, gas prices increase globally, and access to goods becomes more difficult.
In the first week of the war, U.S. gas prices increased by an average of 48 cents per gallon. Experts warn that there are very few alternatives to oil transport, so reopening the Strait of Hormuz is the best course of action to get prices back down.
Many may not realize that if oil is more expensive, it is therefore more expensive to ship food and other goods by trucks that use oil. Roughly 79% of food and goods are transported across the U.S. by trucks. In addition, the oil shortage could greatly affect the price of food because most food production is dependent on fossil fuels, meaning that millions of people could be at risk of food insecurity in the coming weeks and months
When energy rises in price while experiencing a sharp decline in supply, inflation is expected to follow. If the Strait of Hormuz continues to stay closed, global inflation is inevitable.
High inflation means that goods and services are less affordable; businesses cut their investments, and employees are at higher risk of being laid off.
The threat of a global recession from the Iranian conflict should be taken seriously, as experts warn that levels have not been this severe in over 50 years. However, if anything is true about this conflict so far, it is that everything is unpredictable. Looking ahead, staying informed with trustworthy news is the best way to prepare for unforeseen circumstances.
Madeline Wall
Staff Reporter
