This conversation was originally published on June 3rd, 2026.
We keep hearing that another economic shock is coming if the Strait of Hormuz stays closed. But for many Americans, with $7 gas and $6 eggs, the shock is already here.
So I spoke with Gregg Carlstrom, Middle East correspondent for The Economist, currently in Riyadh. He explains why prices could spike even if a deal is reached soon; how the closure could ripple through oil, fertilizer, jet fuel, food, and medical supplies; and why leaders in the Gulf are increasingly worried about the lack of a clear endgame. It’s about more than gas prices and the next few weeks matter.
