Ripple effects 100 days into the Iran energy crisis

This fact sheet by Zero Carbon Analytics examines the global economic and energy impacts 100 days into the Iran war, specifically focusing on the closure of the Strait of Hormuz. It details spikes in oil and gas prices, disruptions to fertiliser and food supply chains, and a subsequent surge in clean energy policy and investment, particularly within Asia.

• The closure of the Strait of Hormuz has caused significant spikes in global energy prices. Brent crude reached USD 138/barrel, and natural gas benchmarks saw dramatic increases on March 19: the LNG Japan/Korea Marker (JKM) rose to USD 22.35 per MMBtu (a 108.4% increase from before the war) and the Dutch TTF peaked at USD 15.81 per MMBtu (a 99.1% increase).
• The energy crisis has disrupted fertiliser and food supply chains, as 23% of global ammonia and 34% of global urea trade passed through the Strait of Hormuz in 2024. Consequently, the World Bank Group’s fertiliser price index rose over 12% in Q1 2026, and the UN FAO food price index hit a three-year high in April 2026.
• Global economic growth has slowed due to the conflict. The IMF reduced its 2026 growth forecast by 0.22% to 3.1% in April 2026, while the OECD expects global GDP growth to drop from 3.4% in 2025 to 2.8% in 2026.
• Asia is the region most vulnerable to the crisis, receiving over half of the seaborne crude oil and LNG exports from the Strait of Hormuz. China, India, Japan, and South Korea together account for 75% of crude oil and 59% of LNG exports through the Strait. This vulnerability has led to increased inflation, higher power prices, and expanded national budget deficits due to rising fossil fuel subsidies.
• In response to the crisis, 26 countries and regions have implemented clean energy and electrification measures, with Asia enacting the most. Specific actions include the Philippines activating 250 MW of solar capacity and 450 MWh of battery storage on March 30, Thailand approving a THB 5 billion loan for energy transition on April 11, and Indonesia planning to replace over 2,000 diesel-powered plants (1.07 GW) with renewable energy.
• There has been a surge in clean technology imports and demand in Asia. Between Q1 2025 and Q1 2026, induction cookstove sales in India increased 10 to 15 times. In April, China's EV exports to the rest of Asia reached a record USD 2.2 billion, with exports to Japan more than doubling to USD 171 million and tripling in Laos and Myanmar. Nepal's imports of Chinese solar PV products increased more than 12-fold to USD 9.1 million in April.

APA

Kong, A. (2026). Ripple effects 100 days into the Iran energy crisis. Zero Carbon Analytics. https://zerocarbon-analytics.org/energy/factsheet-ripple-effects-100-days-into-the-iran-energy-crisis/

Chicago

Kong, Amy. Ripple effects 100 days into the Iran energy crisis. Zero Carbon Analytics, 2026. https://zerocarbon-analytics.org/energy/factsheet-ripple-effects-100-days-into-the-iran-energy-crisis/.

Wikipedia

{{cite report |last1=Kong |first1=Amy |title=Ripple effects 100 days into the Iran energy crisis |publisher=Zero Carbon Analytics |date=8 June 2026 |url=https://zerocarbon-analytics.org/energy/factsheet-ripple-effects-100-days-into-the-iran-energy-crisis/ |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{kong2026ripple, author = {Kong, Amy}, title = {{Ripple effects 100 days into the Iran energy crisis}}, institution = {Zero Carbon Analytics}, year = {2026}, month = jun, url = {https://zerocarbon-analytics.org/energy/factsheet-ripple-effects-100-days-into-the-iran-energy-crisis/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }