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Iran war brings uneven global economic impact six months after outbreak

Financial markets rebound as consumers face elevated energy costs and food supply strains

Updated Aug 30, 2026 · 08:05 UTC2 reports

The short version

  • Six months after the conflict began, equities have rebounded from initial slumps even as Brent crude remains roughly 20% higher than prewar prices.[ABC News · Associated Press]
  • Higher fuel and fertilizer costs have strained airlines and global agriculture, prompting UN warnings about food insecurity across Asia and Africa.[ABC News · Associated Press]
  • Businesses tied to defense manufacturing and political figures have expanded operations and secured major contracts during the hostilities.[ABC News · Associated Press]

Key facts

  • The U.S. and Israel initiated attacks on Iran on February 28, prompting market drops before major indexes rebounded by late August.[ABC News · Associated Press]
  • Brent crude climbed from roughly $72 a barrel to nearly $120 before easing, remaining about 20% above prewar prices.[ABC News · Associated Press]
  • The International Air Transport Association projects jet fuel will average 70% higher costs than in 2025.[ABC News · Associated Press]
  • Fertilizer prices surged to peak in April at 44% above prewar levels according to the World Bank price index.[ABC News · Associated Press]
  • The UN World Food Programme testified that disruptions to fertilizer exports have severely affected Asia and Africa.[ABC News · Associated Press]
  • Military contractor Powerus, planned for public listing by Donald Trump Jr. and Eric Trump, was awarded an Air Force interceptor contract worth up to $90 million.[ABC News · Associated Press]

What remains uncertain

  • Democrats alleged Donald Trump's energy holdings gained up to $15.5 million, while the White House maintained no conflict of interest exists.[ABC News · Associated Press]
  • The full extent of upcoming crop harvest reductions remains uncertain following reduced fertilizer applications by farmers.[ABC News · Associated Press]

Sources

Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.