At Euronews, political affairs usually dominate the coverage, but on this occasion, the focus shifts to a different aspect: what consequences will the Middle East conflict have on individual finances?

After military actions by the US and Israel, Iran responded this week by attempting to obstruct the Strait of Hormuz—a critical geopolitical bottleneck linking the Persian Gulf with the open seas.

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Let’s explore the economic consequences.

Owning a vehicle? Approximately twenty million barrels of oil pass daily through this slender passage, accounting for about 20% of the world’s total supply.

As drone strikes disrupt key maritime transport, the global price of oil has surged, leading to immediate cost increases at fuel stations and a rise in supermarket inflation, since transporting everyday products becomes more expensive.

How does this affect household energy? The Strait of Hormuz transports not only oil but also a significant volume of global liquefied natural gas (LNG).

In response to the assaults, Qatar ceased operations at its LNG facilities, causing European gas prices to soar. Considering Europe’s dependency on this gas for heating and power generation, higher utility expenses are expected.

The timing also worsens Europe’s situation, which currently depends heavily on imported LNG. With energy reserves running dangerously low, a prolonged blockage could trigger steep price surges across the EU.

Environmental groups contend that this situation highlights the vulnerabilities tied to reliance on fossil fuels and advocate accelerating the transition to domestically produced renewable energy sources to reduce exposure to such geopolitical disruptions.

Nonetheless, until this energy shift is fully realized, this small but strategic maritime passage will continue to influence living costs globally.

Watch the Euronews video in the player above for the full story.