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Why Oil Shocks Hit The U.S. Economy Differently Than 20 Years Ago
Posted
March 13, 2026
Views
81,571
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976
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March 13, 2026
81,571
976
118
1.34%
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7:18Now PlayingThe 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.
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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
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What The Iraq War Can Tell Us About Oil Risks Now
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