The Economic Times

600 million barrels gone, gas +47%, jet fuel +100%: is the global energy crisis 2026 from US Iran war about to trigger inflation shock and global recession?

The global energy crisis 2026 is intensifying fast. Over 600 million barrels of oil supply are now lost, triggering a historic oil shock. The crisis is linked to tensions around the Strait of Hormuz, a key global energy route. US gas prices have surged 47% since December. Inflation is now nearing 4% again. Europe is facing a jet fuel spike above 100%, raising flight disruption risks. This global energy crisis 2026 is pushing oil prices higher worldwide. Supply chains are tightening. Energy inflation is spreading across sectors. The risk is clear. A prolonged oil supply shock could drive a global economic slowdown and reshape markets.