1203 ET - The ongoing conflict in Iran could unwind some progress in future ISM surveys, Oxford Economics writes. "Though a complete closure of the Strait of Hormuz is unlikely, a partial reduction in supply is in store over the course of the conflict, which will push global oil and energy prices higher," writes Matthew Martin. "This will filter through to higher prices for both businesses and consumers alike, widening the consumer bifurcation across the income distribution and disproportionately impacting industries in which energy is a much larger share of their cost structure," he added. (jessica.coacci@wsj.com; @jessica_coacci)
(END) Dow Jones Newswires
March 04, 2026 12:04 ET (17:04 GMT)
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