Middle East conflict update: implications for Queensland exporters 

Last updated: 22 July 2026 

The resumption of conflict between Iran and the United States has increased regional tensions and heightened global uncertainty. 

Shipping disruptions, route diversions and elevated freight rates continue to affect global supply chains and trade flows through the Middle East. 

Oil prices have risen above US$84 per barrel following the latest escalation, after falling below US$70 per barrel earlier this month. 

An announced blockade of the Bab el-Mandeb Strait by Iranian-backed Houthi forces could place additional pressure on global shipping routes and energy markets if disruptions persist. 

Efforts to reduce tensions continue, with mediators reportedly proposing a 10-day ceasefire to revive negotiations on an interim US-Iran agreement. 

With ongoing disruptions to the Strait of Hormuz, shipping companies are exploring alternative port and logistics infrastructure which could create opportunities for companies operating in the construction, engineering, logistics and technology sectors. 

Businesses should continue to monitor official Australian Government travel advice before undertaking travel in the region.  

What this means for Queensland businesses 

• Freight costs may remain elevated in the short term.
• Shipping schedules and transit times may be subject to change.
• Food, agribusiness and commodity exporters may face increased supply chain costs.
• Longer-term, opportunities may emerge in logistics, infrastructure, digital technologies and supply chain solutions as Gulf countries seek to strengthen trade resilience.