Jill on Money with Jill Schlesinger Impact of Iran War on Economy
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Mar 9, 2026 Discussion of how the Iran war is pushing oil above $90 and lifting gas and diesel prices. Exploration of higher energy costs rippling into food and fertilizer shortages. Contextual look at a weak jobs report and its implications for consumer confidence. Notes on stock resilience and practical tips for protecting money needed within a year.
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Middle East Conflict Drove A Fast Oil Price Spike
- The Iran war shock pushed crude above $90 a barrel, creating immediate cost pressures across the economy.
- Jill Schlesinger notes gas rose ~43 cents and diesel ~50 cents last week, with oil up 28% to its highest since 2023, feeding through to consumers.
Higher Energy Can Quickly Translate Into Higher Food Prices
- Rising energy costs also threaten food inflation because fertilizer and shipping routes move through the Gulf.
- Jill highlights fertilizer supply from the Middle East as a channel that could lift grocery prices for Americans.
One Bad Jobs Print Can Be Misleading But Still Worrying
- A weak jobs report (net -92,000) increases economic unease but may be noisy month-to-month due to strikes and revisions.
- Jill notes about a third of the job losses came from nurses on strike and construction may have been weather-affected.