Surging energy prices and threats to shipping. How the Middle East war could hurt the global economy

The conflict raging in the Middle East will test the resilience of a global economy buffeted by tariffs and other trade disruptions over the past year. Barely a week into the latest turmoil in the region, there are already signs of strain along the carefully orchestrated arteries of global trade: from rice exports stuck at ports in India to spikes in the price of fertilizer critical to food production. A prolonged war that keeps energy prices high could drive up inflation and, with it, interest rates, piling pain on borrowers. Meanwhile, threats to cargo ships could snag supply chains, further…