April 20: Impact of US-Iran War on International Economy, Financial Markets, and Livelihoods
The US-Iran war's impact on the international economy, financial markets, and livelihoods. Discusses oil price surges due to Iran's re-control of the Strait of Hormuz, impact on US inflation, UAE seeking financial backing from the US and considering the Yuan, and increased EV sales in Europe. Iran reopening Mashhad Airport.
📋 Article Processing Timeline
- 📰 Published: April 20, 2026 at 17:36
- 🔍 Collected: April 20, 2026 at 18:01 (25 min after Published)
- 🤖 AI Analyzed: April 20, 2026 at 18:35 (33 min after Collected)
Central News Agency
(CNA Taipei, April 20, Combined Foreign Reports) During a brief opening of the Strait of Hormuz, the ultra-large oil tanker "Fpmc C Lord" passed through the strait and sailed towards Taiwan's Mailiao Port. However, Iran's announcement over the weekend to re-control the strait has not only led to ships being forced to turn back and shipping resuming its halt, but international oil prices have also risen in response.
Carrying 2 million barrels of crude oil bound for Taiwan, the "Fpmc C Lord" passes through the Strait of Hormuz
Shipping tracking agency Kpler data shows that on April 18th, more than 20 vessels passed through the Strait of Hormuz (Strait of Hormuz), the highest record since March 1st. Among them, the ultra-large oil tanker "Fpmc C Lord" carried approximately 2 million barrels of crude oil destined for Taiwan's Mailiao Port.
Iran Re-closes Strait of Hormuz; Chinese and Indian Vessels Reportedly Forced to Turn Back, Shipping Halted
Days before the expiration of the fragile ceasefire agreement between the US and Iran, Iran has re-asserted control over the Strait of Hormuz, crucial for global energy supply, bringing shipping on this strategic waterway to a standstill on the 19th.
On the morning of the 19th, a Chinese oil tanker and an Indian gas transport ship were seen sailing eastward through the strait. However, data from the ship tracking website MarineTraffic indicates that both ships were seemingly forced to turn back, and no other vessels entered or exited the Persian Gulf after 0:00 GMT.
Hormuz Strait Re-blocked, International Oil Prices Jump Over 6%
Amid mutual accusations between the US and Iran over weekend attacks on vessels, the Strait of Hormuz has been closed again, causing international oil prices to jump over 6%, reversing the more than 9% decline on the 17th.
According to Reuters, as of 23:27 GMT on the 19th, Brent crude oil futures rose by $6.11, or 6.76%, to $96.49 per barrel. US West Texas Intermediate crude oil was priced at $90.38 per barrel, an increase of $6.53, or 7.79%.
US-Iran War Fuels Inflation; Economists Warn of Lingering US Aftermath
Since the outbreak of the US-Iran war in late February, a wave of inflation has hit the United States. Economists warn that this price shock will continue to ferment even after the war ends, placing a heavy burden on American citizens until the November midterm elections.
According to the Consumer Price Index (CPI) released by the US Bureau of Labor Statistics (BLS), US inflation rose to 3.3% in March, a two-year high, with rising oil prices being the main driver.
The International Monetary Fund (IMF) forecasts US inflation to be 3.2% in 2026, higher than the pre-war forecast of 2.5%. The Organisation for Economic Co-operation and Development (OECD) significantly revised its forecast upward from 2.8% to 4.2%.
UAE Seeks US Financial Backing to Avoid Dollar Shortage, Considers Yuan
US officials stated that the United Arab Emirates has begun negotiations with the US to establish a financial support mechanism to prevent the Iran war from pushing the UAE into a deeper crisis. The UAE also indicated that if dollar liquidity is insufficient, it might resort to using the Yuan for oil transactions.
UAE officials have not formally submitted a request for a currency swap mechanism. If established, the UAE Central Bank could obtain dollars at a low cost during a liquidity crisis to support its national currency or bolster foreign exchange reserves.
UAE officials also informed US officials that if there is a shortage of dollar supply, the UAE might be forced to settle oil sales and other transactions in Yuan or other foreign currencies.
US-Iran War Drives Up Oil Prices; European Electric Vehicle Sales Increase Nearly 30% in Q1
Since the US-Iran war, gasoline prices have seen the largest increase in years, prompting citizens to seek alternatives to fuel-powered vehicles. Data from the first quarter shows a nearly 30% surge in pure electric vehicle (BEV) sales in major European car markets.
According to data released on April 20th by industry association E-Mobility Europe and research firm New Automotive, new BEV registrations in 15 European markets in the first quarter increased by 29.4% compared to the same period last year, reaching nearly 560,000 units. In March alone, sales surged by 51.3% to over 240,000 vehicles.
Iran: Northeastern Mashhad Airport International Flights to Resume on 4/20
Iran's Civil Aviation Organization announced that international flights at Mashhad Airport in the northeast will resume starting the 20th.
Since the joint airstrikes by Israel and the US on Tehran, the Iranian capital, on February 28th, which triggered the Middle East war, major airports in Iran have been closed. (Editor: Hong Pei-ying) 1150420
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(CNA Taipei, April 20, Combined Foreign Reports) During a brief opening of the Strait of Hormuz, the ultra-large oil tanker "Fpmc C Lord" passed through the strait and sailed towards Taiwan's Mailiao Port. However, Iran's announcement over the weekend to re-control the strait has not only led to ships being forced to turn back and shipping resuming its halt, but international oil prices have also risen in response.
Carrying 2 million barrels of crude oil bound for Taiwan, the "Fpmc C Lord" passes through the Strait of Hormuz
Shipping tracking agency Kpler data shows that on April 18th, more than 20 vessels passed through the Strait of Hormuz (Strait of Hormuz), the highest record since March 1st. Among them, the ultra-large oil tanker "Fpmc C Lord" carried approximately 2 million barrels of crude oil destined for Taiwan's Mailiao Port.
Iran Re-closes Strait of Hormuz; Chinese and Indian Vessels Reportedly Forced to Turn Back, Shipping Halted
Days before the expiration of the fragile ceasefire agreement between the US and Iran, Iran has re-asserted control over the Strait of Hormuz, crucial for global energy supply, bringing shipping on this strategic waterway to a standstill on the 19th.
On the morning of the 19th, a Chinese oil tanker and an Indian gas transport ship were seen sailing eastward through the strait. However, data from the ship tracking website MarineTraffic indicates that both ships were seemingly forced to turn back, and no other vessels entered or exited the Persian Gulf after 0:00 GMT.
Hormuz Strait Re-blocked, International Oil Prices Jump Over 6%
Amid mutual accusations between the US and Iran over weekend attacks on vessels, the Strait of Hormuz has been closed again, causing international oil prices to jump over 6%, reversing the more than 9% decline on the 17th.
According to Reuters, as of 23:27 GMT on the 19th, Brent crude oil futures rose by $6.11, or 6.76%, to $96.49 per barrel. US West Texas Intermediate crude oil was priced at $90.38 per barrel, an increase of $6.53, or 7.79%.
US-Iran War Fuels Inflation; Economists Warn of Lingering US Aftermath
Since the outbreak of the US-Iran war in late February, a wave of inflation has hit the United States. Economists warn that this price shock will continue to ferment even after the war ends, placing a heavy burden on American citizens until the November midterm elections.
According to the Consumer Price Index (CPI) released by the US Bureau of Labor Statistics (BLS), US inflation rose to 3.3% in March, a two-year high, with rising oil prices being the main driver.
The International Monetary Fund (IMF) forecasts US inflation to be 3.2% in 2026, higher than the pre-war forecast of 2.5%. The Organisation for Economic Co-operation and Development (OECD) significantly revised its forecast upward from 2.8% to 4.2%.
UAE Seeks US Financial Backing to Avoid Dollar Shortage, Considers Yuan
US officials stated that the United Arab Emirates has begun negotiations with the US to establish a financial support mechanism to prevent the Iran war from pushing the UAE into a deeper crisis. The UAE also indicated that if dollar liquidity is insufficient, it might resort to using the Yuan for oil transactions.
UAE officials have not formally submitted a request for a currency swap mechanism. If established, the UAE Central Bank could obtain dollars at a low cost during a liquidity crisis to support its national currency or bolster foreign exchange reserves.
UAE officials also informed US officials that if there is a shortage of dollar supply, the UAE might be forced to settle oil sales and other transactions in Yuan or other foreign currencies.
US-Iran War Drives Up Oil Prices; European Electric Vehicle Sales Increase Nearly 30% in Q1
Since the US-Iran war, gasoline prices have seen the largest increase in years, prompting citizens to seek alternatives to fuel-powered vehicles. Data from the first quarter shows a nearly 30% surge in pure electric vehicle (BEV) sales in major European car markets.
According to data released on April 20th by industry association E-Mobility Europe and research firm New Automotive, new BEV registrations in 15 European markets in the first quarter increased by 29.4% compared to the same period last year, reaching nearly 560,000 units. In March alone, sales surged by 51.3% to over 240,000 vehicles.
Iran: Northeastern Mashhad Airport International Flights to Resume on 4/20
Iran's Civil Aviation Organization announced that international flights at Mashhad Airport in the northeast will resume starting the 20th.
Since the joint airstrikes by Israel and the US on Tehran, the Iranian capital, on February 28th, which triggered the Middle East war, major airports in Iran have been closed. (Editor: Hong Pei-ying) 1150420
Stand with the facts. Your every sponsorship is a force for protecting press freedom.
Download the CNA "First News" APP to grasp the latest news in real-time.
Text, images, and audio/video on this website may not be reproduced, broadcast, or transmitted without authorization.