Iran is blocking oil tankers from passing through the Strait of Hormuz. Consumers around the world are already seeing higher gas prices as a result, but the global oil supply affects so much more than just prices at the pump. Soon, shoppers could see higher prices on food, clothes, e-commerce, and everything in between. The Atlantic staff writer Rogé Karma explains that a healthy economy could probably weather an oil shock like this. A weaker economy, however, such as the one the United States has now, could slip into a recession.
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