Why the Iran war could make everything, not just oil, more expensive

The joint U.S.-Israel war with Iran is causing major disruptions to the energy sector, but that’s not all. With the Strait of Hormuz closed in the wake of attacks across the Middle East, more than just oil is being blocked. And, if the war drags on, everything from medical testing to plastic packaging could be negatively impacted.

Oil, natural gas and fertilizer exports have received the most attention, as the cost of transportation, food and energy ripple through the global economy. However...