Higher Oil Prices From Trump's Iran War Risk Killing the AI Boom, WTO Says
Gizmodo • • business
Key Points:
- The World Trade Organization warns that President Trump's war on Iran risks disrupting global trade, slowing GDP growth from 2.8% to 2.5% in 2026, and increasing fertilizer and energy costs worldwide.
- Elevated oil prices, driven by conflict in the Middle East and the closure of the Strait of Hormuz, threaten to undermine the recent boom in artificial intelligence investments, which are concentrated in a few large firms and remain uncertain in their economic impact.
- The conflict has caused significant damage to critical energy infrastructure, including Iran's South Pars gas field and Qatar's Ras Laffan LNG facility, leading to a sharp rise in natural gas prices in Europe and Asia and fueling concerns over an escalating energy crisis.
- U.S. efforts
