Iran war impacts global economy

As the war enters its sixth week, the average price of jet fuel has reached $4.88 per gallon, up from $2.50 before the hostilities began.

This surge has forced airlines like United to increase baggage fees, while grocery prices are expected to climb by 20 percent as shops pass on transportation costs.

In Southeast Asia, the fuel shock is creating a calamity for millions already living in poverty, disrupting local industries and trade routes.

Market analysts warn that the continuation of the conflict is sapping hopes for a return to normal economic conditions.