Oil Prices Spike as Persian Gulf Shipping Nearly Stops
Part of composite article Iran Shuts Strait of Hormuz, Threatens Global Food Supply for Millions View full article →
Shipping traffic in the Persian Gulf has dropped to its lowest level in over a month, pushing oil prices to their highest point in 30 days. The ongoing conflict with Iran continues to disrupt energy supplies, causing a sharp rise in crude costs. Analysts warn that further delays could tighten global markets.