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The Iran war could have sweeping consequences for the global economy — potentially sending oil prices soaring and disrupting supply chains around the world.

That’s the stark warning from Qatar’s energy minister Saad al-Kaabi, who told the Financial Times that the conflict could “bring down the economies of the world” if it drags on and disrupts energy exports from the Persian Gulf (1).

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According to al-Kaabi, one of the biggest risks lies in the Strait of Hormuz, a vital waterway that serves as the main export route for Gulf oil and gas, handling roughly one-fifth of the global supply. If tankers and merchant vessels can’t safely pass through the strait, crude prices could spike dramatically.

He forecast that oil could soar to about $150 per barrel within two to three weeks if shipments are unable to move through the chokepoint. The minister also warned that natural gas prices could surge to around $40 per million British thermal units, nearly four times the levels seen before the Iran war started.

The warning comes after Iranian drone strikes hit Qatar’s Ras Laffan LNG facility, prompting the country — the world’s second-largest LNG exporter — to declare force majeure on some shipments.

If the war continues, al-Kaabi suggested other Gulf exporters may have little choice but to follow suit. And even if hostilities ended immediately, he cautioned it could still take “weeks to months” to restore normal deliveries due to damage, security concerns and disrupted logistics.

And energy markets are only the beginning.

“This will bring down the economies of the world,” he warned. “If this war continues for a few weeks, GDP growth around the world will be impacted. Everybody’s energy price is going to go higher. There will be shortages of some products and there will be a chain reaction of factories that cannot supply.”

The conflict has already rattled global markets. Oil prices have surged amid fears that the war could shut down major pipelines, refineries and export terminals across the Middle East.

Fuel prices could rise sharply, while higher energy costs could also push up prices for food, shipping and manufactured goods. In the U.S., the average price of regular gas has surged by 21% over the past month to $3.539 per gallon (2).

Economists often warn that prolonged energy shocks can contribute to higher inflation and slower economic growth (3). For households already facing elevated living costs, that combination could make budgets even tighter.

That said, history shows that savvy investors have often found ways to protect their wealth from inflation’s bite — even amid global geopolitical uncertainties and war.

When it comes to preserving wealth and fighting inflation, few assets have stood the test of time like gold.

Its appeal is simple: Unlike fiat currencies, the yellow metal can’t be printed at will by central banks.

Gold is also considered the ultimate safe haven. It’s not tied to any one country, currency or economy and in times of economic turmoil or geopolitical uncertainty, investors often flock to it — driving prices higher.

Ray Dalio, founder of the world’s largest hedge fund, Bridgewater Associates, has repeatedly highlighted gold’s role in a resilient portfolio.

“People don't have, typically, an adequate amount of gold in their portfolio,” Dalio told CNBC last year. “When bad times come, gold is a very effective diversifier.”

Over the past 12 months, the price of gold has surged by more than 70%.

Even before the most recent conflict, other prominent voices saw further potential. JPMorgan CEO Jamie Dimon recently said that in this environment, gold can “easily” rise to $10,000 an ounce.

One way to invest in gold that also provides significant tax advantages is to open a gold IRA with the help of Thor Metals.

Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, which combines the tax advantages of an IRA with the protective benefits of investing in gold, making it an attractive option for those looking to potentially hedge their retirement funds against economic uncertainties.

To learn more, you can get a free information guide that includes details on how to get up to $20,000 in free metals on qualifying purchases.

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Gold isn’t the only asset investors turn to during inflationary times. Real estate has also proven to be a powerful hedge.

When inflation rises, property values often increase as well, reflecting the higher costs of materials, labor and land. At the same time, rental income tends to go up, providing landlords with a revenue stream that adjusts for inflation.

Over the past five years, the S&P Cotality Case-Shiller U.S. National Home Price NSA Index has jumped by nearly 40%, reflecting strong demand and limited housing supply (4).

Of course, high home prices can make buying a home more challenging, especially with mortgage rates still elevated. And being a landlord isn’t exactly hands-off work — managing tenants, maintenance and repairs can quickly eat into your time (and returns).

The good news? You don’t need to buy a property outright — or deal with leaky faucets — to invest in real estate today. Crowdfunding platforms like Arrived offer an easier way to get exposure to this income-generating asset class.

Backed by world-class investors like Jeff Bezos, Arrived allows you to invest in shares of rental homes with as little as $100 — all without the hassle of mowing lawns, fixing leaky faucets or handling difficult tenants.

The process is simple: Browse a curated selection of homes that have been vetted for their appreciation and income potential. Once you find a property you like, select the number of shares you’d like to purchase and then sit back as you start receiving any positive rental income distributions from your investment.

For a limited time, when you open an account and add $1,000 or more, Arrived will credit your account with a 1% match.

Another option is Lightstone DIRECT, which offers accredited investors access to institutional-quality multifamily and industrial real estate — with a minimum investment of $100,000.

Founded in 1986 by David Lichtenstein, Lightstone Group is one of the largest privately held real estate investment firms in the U.S., with more than $12 billion in assets under management.

Over nearly-four decades, their team has delivered strong, risk-adjusted performance across multiple market cycles — including a 27.6% historical net IRR and a 2.54x historical net equity multiple on realized investments since 2004.

With Lightstone DIRECT, you gain access to the same multifamily and industrial deals Lightstone pursues with its own capital.

Here’s the kicker: Lightstone invests at least 20% of its own capital in every deal — roughly four times the industry average. With skin in the game, the firm ensures its interests are directly aligned with those of its investors.

Prominent investors like Dalio often stress the importance of diversification — and for good reason. Many traditional assets tend to move in tandem, especially during periods of market stress.

That message feels especially relevant today. Nearly 40% of the S&P 500’s weight is concentrated in its ten largest stocks and the index’s CAPE ratio hasn’t been this high since the dot-com boom.

This is where, for many investors, alternative assets come into play. These can include everything from real estate and precious metals to private equity and collectibles.

But there’s one store of value that routinely flies under the radar: It’s scarce by design, coveted worldwide and frequently locked away by institutions.

We’re talking about post-war and contemporary art — a category that has outpaced the S&P 500 with low correlation since 1995.

It’s easy to see why art pieces often fetch new highs at auctions: The supply of the best works of art is limited and many of the most desirable pieces have already been snatched up by museums and collectors. That scarcity can also make art an attractive option for investors looking to diversify and preserve wealth during periods of high inflation.

Until recently, purchasing art has been a domain reserved for the ultra-wealthy — like in 2022 when a collection of art owned by the late Microsoft co-founder Paul Allen sold for $1.5 billion at Christie’s New York, making it the most valuable collection in auction history (5).

Now, Masterworks — a platform for investing in shares of blue-chip artwork by renowned artists, including Pablo Picasso, Jean-Michel Basquiat and Banksy — can help you get started with this asset class. It’s easy to use and with 25 successful exits to date, Masterworks has distributed more than $65 million in total proceeds (including principal).

Simply browse their impressive portfolio of paintings and choose how many shares you’d like to buy. Masterworks can handle all the details, making high-end art investments both accessible and effortless.

New offerings have sold out in minutes, but you can skip their waitlist here.

Note that past performance is not indicative of future returns. Investing involves risk. See Reg A disclosures at masterworks.com/cd.

At the end of the day, everyone’s financial situation is different — from income levels and investment goals to debt obligations and risk tolerance. And when the economic outlook is uncertain, those differences matter even more. If you’re unsure where to start, now could be the right time to get in touch with a financial advisor.

With Vanguard, you can connect with a personal advisor who can help assess how you’re doing so far and make sure you've got the right portfolio to meet your goals on time.

Vanguard’s hybrid advisory system combines advice from professional advisers and automated portfolio management to make sure your investments are working to achieve your financial goals.

All you have to do is fill out a brief questionnaire about your financial goals and Vanguard’s advisers will help you set a tailored plan and stick to it.

Once you’re set, you can sit back as Vanguard’s advisors manage your portfolio. Because they’re fiduciaries, they don’t earn commissions, so you can trust that the advice you’re getting is unbiased.

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We rely only on vetted sources and credible third-party reporting. For details, see our editorial ethics and guidelines.

Financial Times (1); AAA (2); Bank for International Settlements (3); S&P Global (4); Christie’s (5)

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.