Stocks are soaring. But the Iran war’s economic damage is far from over.

Apr 18, 2026
stocks-are-soaring-but-the-iran-war’s-economic-damage-is-far-from-over.

Democracy Dies in Darkness

The surge in optimism contrasts starkly with continued energy supply challenges that threaten long-lasting economic harm — and a market reckoning.

April 18, 2026 at 5:00 a.m. EDT22 minutes ago

A Greek-flagged crude oil tanker sails off the coast of the Syrian Baniyas port refinery in Mediterranean Sea on Wednesday. (Bakr Alkasem/AFP/Getty Images)

As stocks soared this week and oil prices dropped amid an apparent cooling of tensions between the United States and Iran, it may have left the impression that the energy shock that rattled the world is quickly fading, along with the risk of sending the global economy into recession.


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