A core US demand heading into peace talks with Iran this weekend will be reopening the Strait of Hormuz, where a near-total shipping shutdown has led to rising global oil prices and threatened supplies of food, plastics, packaging and semiconductors.

On today’s Big Take podcast, Sarah Holder speaks with Tracy Alloway and Joe Weisenthal, hosts of Bloomberg’s Odd Lots podcast, about how the Hormuz shutdown is reverberating around commodities markets — and the lasting mark it could leave on the global supply chain even after ships start moving again.

For more Odd Lots episodes on Iran and commodities, check out:

Hosted by Sarah Holder; Produced by Rachael Lewis-Krisky.

Edited by Jeffrey Grocott.

Fact-checking by Eleanor Harrison-Dengate and Julia Press; Engineering by Katie McMurran.

Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

See omnystudio.com/listener for privacy information.

It’s Not Just Oil. War in Iran Will Hike the Price of Nearly Everything You Buy

Big Take