To keep cargo flowing, President Donald Trump said in a Truth Social post on Tuesday that the U.S. Navy would start “escorting tankers through the Strait of Hormuz” if necessary. But since then, traffic has remained at a near standstill, and it’s unclear if any tankers have taken the government up on its offer. “Naval … Read more
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
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