The escalating Iran conflict is drawing comparisons to the 2003 Iraq war, when oil prices and gasoline costs surged. Fresh fears of supply disruptions through the Strait of Hormuz are rattling global energy markets and fueling inflation concerns. But key differences, including higher interest rates, rising federal debt and the United States’ role as the world’s largest oil producer, could reshape how this geopolitical shock affects households budgets and investor outlook.
Chapters:
0:00 Introduction
0:51 Oil in 2003 vs. now
2:33 Interest rates
5:38 Deficit increase?
Produced and shot by: Charlotte Morabito
Edited by: Andrea Miller
Additional Reporting by: Pippa Stevens, Matt Peterson, Jeff Cox
Animation: Jason Reginato, Emily Park, Christina Locopo
Senior Director of Video: Lindsey Jacobson
Additional Footage: Getty Images
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
About CNBC: From ‘Wall Street’ to ‘Main Street’ to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
Want to get ahead at work with AI? Sign up for CNBC’s new online course, Beyond the Basics: How to Use AI to Supercharge Your Work. Learn advanced AI skills like building custom GPTs and using AI agents to boost your productivity today. Sign up today: https://cnb.cx/4qKBe6H
Connect with CNBC News Online
Get the latest news: https://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC on Threads: https://cnb.cx/threads
Follow CNBC News on X: https://cnb.cx/FollowCNBC
Follow CNBC on WhatsApp: https://cnb.cx/WhatsAppCNBC
#CNBC
What The Iraq War Can Tell Us About Oil Risks Now
source
