In response to the U.S. and Israel-Iran war, Qatar has cut natural gas production, bond yields and gas prices are up, and shipping firms are rerouting cargo away from the Red Sea.
"Marketplace" host Kai Ryssdal talks with Robin Brooks, Senior Fellow at the Brookings Institution, about the macro-economic implications of the war in Iran.
About a fifth of the global supply of liquified natural gas comes through the Gulf, primarily from Qatar. With that supply halted, possibly for weeks, major importers in Europe and Asia will need to look elsewhere.
The new routes will take longer, and some shipping companies are adding a surcharge to compensate for the additional risk, as well as the extra fuel and labor.
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