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20 Commodities with the Highest Price Increases in a Month of the US-Israel War against Iran

Adi Ahdiat 06/04/2026 12:51 WIB

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The prices of various commodities rose after the outbreak of the US-Israeli war against Iran. In the first month of the war, the highest price increases occurred in natural gas, urea fertilizer, and c

20 Global Commodities with the Highest Price Increase Percentage in the First Month of the US-Israel War against Iran (March 2026)*

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20 Global Commodities with the Highest Price Increase Percentage in the First Month of the US-Israel War against Iran (March 2026)*

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The United States-Israel war against Iran that broke out since the end of February 2026 has not subsided until now.

In the first month of the war, there were various global strategic commodities whose prices increased significantly.

The highest price increase occurred in fossil energy commodities, especially European natural gas.

According to World Bank data, before the war began, the average price of European natural gas in February 2026 was still US$11.2/mmbtu.

However, after a month of war raging in the Middle East, the average price of European natural gas in March 2026 became US$17.9/mmbtu, an increase of about 59% compared to the previous month (month-to-month/mtm).

There was also a significant increase in urea fertilizer, crude oil, and liquefied natural gas, whose prices surged between 31% and 53% (mtm).

Meanwhile, the price increase of other commodities in March 2026 was relatively mild, as can be seen in the chart.

According to market intelligence firm S&P Global, the rise in energy prices due to the United States-Israel war against Iran could trigger food inflation.

"Global food prices rose for the second consecutive month in March 2026, driven by energy cost pressures related to conflicts in the Middle East," said S&P Global in the report "Global food prices rise in March across basket amid Middle East energy shocks," April 3, 2026.

"This increase reflects the impact of rising crude oil prices and shipping costs on agricultural commodity markets, reinforcing concerns that energy shocks are developing into food inflation," they said.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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20 Commodities with the Highest Price Increases in a Month of the US-Israel War against Iran

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