War in Iran Drives Energy Prices Up Sharply

19. March 2026, 11:15

The war in Iran harms the world economy. Prices for gas went up over 30 percent. Oil also gets more costly. One reason is the danger in the Persian Gulf. The Strait of Hormuz is there. This is an important path for ships. If ships cannot move there, Europe lacks energy.

Italy has big worries especially. The country needs much gas from this region. Prices also rise in Germany. Experts warn of high inflation. This means: Everything gets more costly for people. Politicians in Europe want to calm the situation. They ask for de-escalation. This means: The dispute should not get worse.

Donald Trump threatens Iran with new attacks. He wants to shoot at important gas fields. Friedrich Merz warns against a worsening of the war. The stock markets react nervously to the news. Many people fear rising costs for gas and heating. The EU states now talk about solutions for the problem.

Definitions

Inflation

Inflation means money loses value. You get fewer goods or services for the same money. Prices for daily things rise then.

De-escalation

De-escalation means reducing tensions. People try to calm a dispute or a war. This avoids more violence.

Stock Markets

At the stock market, people trade stocks or raw goods like oil and gas. Prices change there constantly based on the world situation.

People

Donald Trump

Donald Trump is a US politician. He was the 45th President of the United States.

Friedrich Merz

Friedrich Merz is a German politician. He is the Chancellor of Germany.

Locations

Iran

Iran is a country in Western Asia. It plays an important role in oil and gas production.

Strait of Hormuz

The Strait of Hormuz is a narrow sea passage. It is between the Persian Gulf and the Gulf of Oman. It is very important for energy transport by ship.

Italy

Italy is a country in Southern Europe.

Sources

Der Spiegel 19. March 2026, 10:28

Iran-Krieg: Hormus-Blockade belastet Italien stärker als Deutschland