US-Iran conflict impacts global economy: Hormuz Strait control and rising fuel costs

Following the latest round of conflict between the US and Iran, the global economy is facing significant pressure. Shipping experts suggest that the Strait of Hormuz may reopen under Iranian control, with the industry accepting that pre-war free passage is unlikely to return. Meanwhile, rising aviation fuel prices have forced Indian airlines, including Air India and IndiGo, to reduce domestic flights by 5% to 15% starting June 1st. Additionally, the Pentagon is facing increased costs for SpaceX's Starlink services, which are used to guide suicide drones, with costs nearly doubling per unit.