Beyond Oil: How The Iran War Could Send Food Prices Soaring

In the wake of U.S. and Israeli strikes on Iranian military infrastructure, the financial press has reflexively focused on oil. Tanker traffic, Brent crude, and the risk of triple-digit prices dominate the discussion. But oil is not the only commodity posing a serious long-term risk. Another deep vulnerability runs through natural gas—and from there into nitrogen fertilizer. If commercial shipping through the Strait of Hormuz were significantly restricted, the impact would extend beyond fuel markets. It would reach directly into global food…