World markets are reeling after the US and Israel attacked Iran over the weekend and killed Supreme Leader Ali Khamenei, disrupting international trade and travel and raising the risk of a prolonged conflict that has sweeping commercial and economic effects. "The first order reaction to the weekend's escalation will likely see the dollar benefit on the back of higher energy prices and elevated risk aversion," Barclays analysts wrote on Saturday after the first attacks. Meanwhile, gasoline makes up about 2% of total consumer spending in the US — a fraction of its share during the oil shock era of the 1970s through the 1990s.
Author: madams@businessinsider.com (Max Adams)
Published at: 2026-03-01 23:16:34
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