Iran war divides world markets into winners, losers

LONDON—Three months since the Iran war began, persistently high oil prices have policymakers grappling with renewed inflation fears, while sliding currencies are a headache for some Asian countries.

But the conflict has boosted other assets, especially oil, ​and the dollar’s credentials as a safe haven.

Here’s a look at some stand-out winners and losers.

OIL’S WIDER IMPACT

Oil’s roughly 40% jump has upended the outlook for ‌inflation and interest rates. On the physical market, crude prices are well above $100 a barrel and, at one point in early April, were nearly double what they were pre-war.

A record 400-million-barrel release from the strategic reserves of major economies, together with traders finding alternative sources, has helped cushion the loss of supply. But the strain on the global energy system is growing.

AI BOOM CUSHIONS STOCKS

Global stocks have so far weathered the storm, ​as renewed AI optimism and broader hopes for a peace deal overshadow the negative impacts of the war.