Cement, Drugs, and Oil—How the Iran Conflict Could Disrupt Global Supply Chains

A prolonged conflict would further delay ships in the Strait of Hormuz, leading to product shortages and higher production and transportation costs.

An Iranian crude oil tanker sails near Bandar Assaluyeh, Iran, on Jan. 27, 2026. Sam/Middle East Images/AFP via Getty Images

The conflict in Iran could have consequences for international trade that extend beyond oil and gas.

It has been less than a week since the start of the U.S.–Israeli operations in Iran, and oil tanker traffic in the Strait of Hormuz—a key global chokepoint for energy shipments—has come to a screeching halt. Approximately 200 oil tankers have been stranded in the Gulf, according to data from Lloyd’s List Intelligence.