The ongoing conflict in Iran, involving Israel and the US, is reshaping the global economic landscape with profound implications. Energy supply disruptions, particularly in the Strait of Hormuz, are causing oil prices to surge, with projections suggesting they could exceed $100 per barrel if constraints continue. This energy crisis is expected to contribute to global inflation rising by 200 to 300 basis points, particularly affecting developing economies where inflation could reach 6.7% in a worst-case scenario. The conflict is also straining agricultural supply chains, as disruptions in fertilizer production threaten food security for millions, with the World Food Programme warning that an additional 45 million people could face acute food insecurity by mid-2026. Furthermore, labor markets are under pressure, with estimates of 2.5 to 3.5 million jobs potentially lost across the Arab states due to the economic fallout. As the geopolitical landscape evolves, the conflict is accelerating a shift towards a more fragmented global order, raising questions about the future of international alliances and trade routes.