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Iran Conflict Drives Oil Near $100 as Global Economy Feels the Strain

Iran Conflict Drives Oil Near $100 as Global Economy Feels the Strain

Al Jazeera·9 June 2026

More than 100 days into the Iran conflict, 20% of the world's energy supply remains disrupted in what analysts are calling the largest oil supply shock in history, with prices holding near $100 a barrel. The economic tremors from this Middle East conflict are being felt globally, with the OECD warning impacts could linger into 2027 — a stark reminder that instability centred on the biblical heartland of the ancient world carries consequences far beyond the region. Scripture repeatedly warns that the end times will be marked by economic upheaval and wars and rumours of wars, with nations in distress and perplexity — patterns now visibly accelerating from the epicentre of biblical prophecy.