shipping

Iran ceases all shipping in Strait of Hormuz after U.S.-Israel strikes

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For the first time in history, Iranian officials say the country has closed the Strait of Hormuz following joint strikes from the U.S. and Israel. 20% of the world’s oil and gas trade flows through the passage along Iran’s southern border. Politico oil and gas reporter James Bikales joins to discuss the potential financial repercussions. … Read more

Iran-U.S. war chokes key shipping lane and threatens global cargo industry

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Industries like automotive manufacturing and consumer electronics could see slowdowns or production halts, according to Abuwasel, who also expects delays for pharmaceuticals, medical supplies and temperature-controlled goods the longer this conflict drags on. Historically, geopolitical shocks tend to fade quickly when it comes to economic impact. Last summer’s flare-up between the U.S. and Iran, for … Read more