How is the Iran war actually affecting the US and EU economies?

I came across an analysis looking at the economic side of the 2026 Iran war—especially how disruptions in the Strait of Hormuz are feeding into inflation and energy costs in the US and Europe. Disruptions in Hormuz could be removing ~10M bpd from the market—now showing up in inflation and energy costs in the US/EU. Short-term shock or early stagflation signal?
https://irannewswire.org/iran-war-economic-impact-2026/