Global trade is set to slow more than expected in 2026, as uncertainty around the Iran conflict weighs on energy, food and services, according to a new report by the World Trade Organization.

The organization had forecast global trade growth to slow to 1.9% in 2026, down from 4.6% a year earlier. That growth could fall by another 0.5% if oil and gas prices remain high, the WTO said.

In addition to the soaring cost of crude oil and liquified natural gas, the war between the U.S., Israel and Iran is also putting pressure on food supplies and services trade due to travel and transport disruptions, the report said. Beyond fuels, the Strait of Hormuz blockade has disrupted fertilizer supplies critical to global agriculture, with around one-third of the world's fertilizer exports normally passing through the waterway.

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(END) Dow Jones Newswires

March 19, 2026 11:28 ET (15:28 GMT)

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