Iran conflict disrupts oil shipments and raises global consumer costs
The conflict in Iran is making everyday stuff like toys and clothes more expensive around the world.
Since oil shipments are disrupted, companies are paying 10% to 15% more for toy materials, according to Aleni Brands CEO Ricardo Venegas.
It's a reminder of how much these industries rely on oil.
Polyester up to $1.33/kg
Petrochemicals from oil go into more than 6,000 products we use daily.
With crude prices up, costs for things like synthetic shoe materials have jumped: about 30% of those costs are tied to oil, says the Footwear Distributors and Retailers of America.
US clothing makers are also feeling it, with polyester prices rising from 90 cents to $1.33 per kilogram since the conflict began, meaning higher prices could be coming soon for shoppers everywhere.