Food rationing, panic-buying, planes grounded and an economic hammer blow far worse than Covid: Economists explain nightmare scenario that could be just weeks away due to Iran war
Fears are mounting that the world is heading for an economic blow far worse than the Covid pandemic within weeks as the Iran conflict threatens global oil and gas supplies. Experts warn it could trigger food shortages, grounded flights and panic-buying as countries risk running out of fuel and energy if key shipping routes remain shut. That could trigger a domino effect across the global economy, hitting everything from air travel to food production. Kurt Barrow, vice-president of oil at S&P Global Energy, warned the world could soon face outright shortages and rationing if the disruption continues. She said: 'Even just a few missiles or drones fired into the Bab el-Mandeb Strait would push oil prices several legs higher.'
Source: Daily Mail March 20, 2026 23:40 UTC
