Good morning. Just as companies were adjusting to tariffs, the Iran conflict has delivered a fresh energy shock, potentially reviving inflation risks and squeezing margins.
For corporate leaders, the issue is not just the immediate market reaction. It is the layering of shocks. Tariffs were already raising costs and complicating planning assumptions. Now an energy supply scare adds a second channel of pressure, through fuel, freight, and input prices, just as inflation appeared to be stabilizing.
