The impact of the #MiddleEast conflict is moving steadily from #globalmarkets into household budgets, with early signs already visible in #fuel and #transport. Pressure is expected to build in stages, spreading across food, goods and services if disruptions persist. The Strait of Hormuz sits at the centre of this shift. It carries a large share of global oil and trade flows, and any slowdown quickly feeds into prices that consumers eventually pay. #Globalenergy markets respond immediately to disruptions, pushing up crude prices and freight rates. This is the first and most visible channel for households. “The first pressures are felt in fuel, transport, and delivery services, because wholesale energy markets, freight rates and war-risk insurance premiums react almost immediately,” said Hamza Dweik, Head of Trading for MENA at Saxo Bank. Vijay Valecha, Chief Investment Officer at Century Financial, said households tend to feel this within a short window. “This is the channel that hi...