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Ormuz closed amid US-Israel-Iran war; oil and gas prices surge globally.
6 articles |
Updated 17h ago |
Created 3d ago
The Strait of Hormuz remains shut since the United States, Israel launched their conflict with Iran on March 13th in a move that has triggered sharp increases across global energy markets as reported by CNN's Soph Warnes et al., while President Trump faces mounting pressure to find an exit from this escalating regional war.
Key Points
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1The Strait of Hormuz has remained closed since the US and Israel initiated their war with Iran.
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2This closure is causing a significant spike in oil prices, which subsequently raises gas costs for consumers globally.
Developments
March 20
"De los mercados a la mesa": Oil war reshapes shopping basket
La crisis en el estrecho de Ormuz, en mapas y gráficos: así golpea la guerra con Irán al petróleo
Krdo
2d ago
The Strait of Hormuz remains closed due to the US-Israel war with Iran since late October 2019 and is under critical threat from at least fourteen reported attacks on vessels. This closure has driven oil prices up by two factors: near-total blockage in this vital shipping route for Saudi Arabia, Kuwait's crude exports; a slowdown of production across Middle East region