•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Japan’s biggest snack maker, Calbee, warned on Tuesday that its products will switch from their colorful packaging to black-and-white labels by the end of the month. The company cited a shortage of an ink ingredient linked to the Iran war, which has disrupted supply chains tied to the Strait of Hormuz.
The packaging change is reportedly due to a shortage of naphtha, an ink ingredient derived from petroleum. Japan imports about 40% of its naphtha consumption from the Middle East via the Strait of Hormuz, a shipping channel that has been closed since the U.S. and Israel attacked Iran at the end of February.
The naphtha shortage is also being felt by manufacturers of cars, bathrooms and paint, according to the New York Times, which has reported difficulties securing the ingredient.
Calbee’s move follows another disruption in Japan’s snack industry: Yamayoshi Seika was forced to pause production of its popular Wasabeef potato chips due to a lack of heavy oil needed for its factory machinery, also triggered by the Hormuz shipping disruption.
Beyond Japan, the closure of the strait has contributed to shortages worldwide, including in India. A lack of aluminum needed to make cans has led to a scarcity of Diet Coke, prompting “Diet Coke parties,” where the drink is treated as a limited-availability item and sold at significant markups.
In India, some restaurants have warned they may be forced to close due to a shortage of cooking gas. Factories in the country’s ceramics industry have also halted production as natural gas shortages affect kiln operations.
Qatar, which accounts for about one-third of the world’s helium supply, stopped producing helium in March after Iranian strikes hit two liquid natural gas facilities. The resulting shortage threatens the operation of MRI machines and the manufacturing of artificial intelligence chips, smartphones and electric vehicles.
Also relevant to AI chip manufacturing is tungsten, a metal with extreme heat resistance and electrical conductivity. The content notes that tungsten is also critical for armor-piercing munitions, which the U.S. and Israel are using quickly in the war, drawing down American tungsten stocks.
The war is also heavily impacting global sulfur supply. Much of the sulfur comes from Persian Gulf oil refineries and is used across industries to grow food, make toothpaste, balance drink flavors and treat municipal water.
The Strait of Hormuz has been blocked by Iran since attacks on the country began at the end of February. The closure of the passage—through which a significant portion of the world’s oil flows—initially impacted oil and gas prices, and longer disruptions are expected to create additional second- and third-round effects on the global economy.
Economists warn that the impact on the U.S. and the global economy is likely to be long-lasting even after the strait reopens. The surge in gas prices has already contributed to higher inflation, and President Donald Trump has proposed suspending the federal gas tax to provide relief.
$4.50 — the national average price of a gallon of gas as of Tuesday, according to AAA. The figure is up from $3.14 one year ago, with some states averaging more than $5 per gallon.
U.S. next steps. Some have warned Trump is seriously considering a restart of major combat operations in Iran after the president said the current ceasefire is on “massive life support.”
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
