<p>The effective closure of the Strait of Hormuz due to the war with Iran is having all sorts of effects on energy markets and the flow of other commodities—like fertilizer. Roughly <a href="https://www.cfr.org/articles/the-iran-wars-hidden-front-food-water-and-fertilizer" class="default">one third</a> of the world’s fertilizer passes through the narrow waterway in the Persian Gulf. On today’s show, the Council on Foreign Relations’ Michael Werz joins Kimberly to make the case that the ongoing disruption to the fertilizer trade is causing a chain reaction that could raise food prices and intensify humanitarian crises across the globe. </p><br/><p>Here’s everything we talked about today:</p><br/><ul><li><a href="https://www.cfr.org/articles/the-iran-wars-hidden-front-food-water-and-fertilizer">"The Iran War’s Hidden Front: Food, Water, and Fertilizer"</a> from the Council on Foreign Relations </li><li><a href="https://www.wsj.com/opinion/the-iran-wars-other-energy-shortagefood-9be83005?gaa_at=eafs&amp;gaa_n=AWEtsqdJVAFedFkTvhpuS2rtz16F-scJIKmWsSBCzuo7NYItKc0bd-PI-bMQNaxOEuY%3D&amp;gaa_ts=69c43eab&amp;gaa_sig=WYHsOxK5o0dLNkOGaiRgfrwQpMTwky-GT9g_MVF2PdcKZf10W88eS9GKTD5YKnbgNe-RVqh5IzmyB4n5A2421Q%3D%3D">"The Iran War’s Other Energy Shortage—Food"</a> from The Wall Street Journal </li><li><a href="https://www.theguardian.com/business/2026/mar/22/energy-shock-iran-war-also-driving-world-towards-food-crisis">"Energy shock talk grabs headlines but the Iran war is also driving the world towards a food crisis"</a> from The Guardian </li><li><a href="https://www.ft.com/content/615309d5-5aa1-42a7-bb34-09d7f29c7d79?syn-25a6b1a6=1">"Russia reaps fertiliser windfall from Iran war"</a> from The Financial Times</li></ul><br/><br/><p>If “Make Me Smart” adds something meaningful to your week, we’d love your help keeping it going. <strong>Donate now:</strong> <a href="https://support.marketplace.org/smart-sn" class="ms-outlook-linkify">https://support.marketplace.org/smart-sn</a></p>