Iran-U.S. Conflict Could Boost Global Inflation 0.8% as WTI Crude Hits $83 on July 21

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According to BlackRock's latest analysis reported by CNBC, the escalating conflict between the United States and Iran could push global headline inflation up by 0.8 percentage points. WTI crude oil futures for August delivery traded at $82.90 on July 21, approaching $83 as military tensions intensified. BlackRock noted that energy-import-dependent regions, particularly Europe and parts of Asia, would face greater inflationary pressure than other areas. The conflict escalation, coupled with Houthi forces' declaration of a blockade on the Red Sea, has renewed inflation concerns among market participants.
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