The impact of the war in Iran on prices. What other products are directly affected, apart from fuels.

The conflict in the Middle East, centered on the intervention of Israel and the USA in Iran, has led to a significant increase in fuel prices, considering that Iran has blocked access through the Strait of Hormuz, a crucial point for the transport of over 20% of the world's oil. A Coface analysis highlights that the effects extend beyond transportation costs, affecting the entire commodity market. Brent oil has risen by 50% in a month, reaching 119 dollars, while retail gasoline prices in the USA have hit a record of 3.96 dollars/gallon. Natural gas and fertilizers have become more expensive, and natural gas prices in Europe have increased by 85%. Additionally, the blockage in the Strait of Hormuz affects aluminum production, with Aluminium Bahrain suspending 19% of its output. This situation could have a significant impact on food prices and other industries if tensions persist.