What the US-Israel war with Iran means for global trade

The conflict has caused the closure of shipping lanes, with up to a fifth of global energy and as much as a third of other commercial shipping impacted.

Thousands of flights have also been suspended, with airports as well as refineries the target of Iranian attacks.

We get reaction to the latest developments.

(Picture: A traveller looks at a departures board displaying a cancelled Qatar Airways flight for Doha, amid the U.S.-Israel war with Iran, at Terminal 8 at John F. Kennedy (JFK) International Airport in New York City, U.S., March 2, 2026. REUTERS/Bing Guan. Credit:).