Conflict, energy and constraints

Financial markets have been jolted over the past week by a sharp escalation in geopolitical risk. The sudden intensification of hostilities between Israel and Iran—marked by missile strikes and retaliatory air operations—has reignited fears of a broader regional conflict with global consequences. In our charts this week we focus on:

• Geopolitical risk
• Oil prices and global growth
• Global shipping costs
• Global oil reserves
• Living standards and energy prices
• Natural capital