How will soaring oil prices caused by Iran war impact food prices?

For the first time since Russia’s 2022 invasion of Ukraine, the price of oil skyrocketed past $100 per barrel this week, driven by ongoing energy uncertainty after the United States and Israel’s war on Iran began on February 28.

About 20 percent of the world’s oil comes from the Gulf region, and most of it is shipped on massive tankers through the Strait of Hormuz. This narrow waterway, located ...