Iranian Attacks in Strait of Hormuz Threaten to Drive U.S. Gas Prices to Record Highs

Iranian attacks in Strait of Hormuz threaten to drive U.S. gas prices to record highs

The unprecedented Strait of Hormuz closure amid the Iran war has spiked the price of oil and gas. It's also left thousands of crew members stranded on ships as the war rages on.

US response to the Strait of Hormuz closure is becoming a farce

More than two weeks into the conflict, oil prices are above $100 per barrel and there is no credible strategy to reopen the waterway

Hormuz closure raises urea import cost

Escalating tensions in the Middle East have disrupted global fertiliser supply chains and pushed international urea prices to $740-750 per tonne, exposing vulnerabilities in global agricultural markets and raising concerns for import-dependent countries. According to a statement issued on Saturday, the crisis was triggered by disruptions to Qatari gas exports and the closure of the Strait of Hormuz, developments that have throttled fertiliser ou…

Strait of Hormuz will remain closed: Iranian official

A senior Iranian official says the closure of the strategic Strait of Hormuz will remain in place, holding the United States responsible for regional instability.

Iran’s blockade of the Strait of Hormuz is destined to fail

If the closure lasts much longer, the Islamic Revolutionary Guard Corps’ vehicles will run out of fuel. By Michael Rubin, Middle East Forum Stop the Panic Over Closure of Strait of Hormuz Oil is again over $100 per barrel, gasoline prices have risen up to 40 cents a gallon at the pumps, and the Iranians released a statement in Mojtaba Khamenei’s name declaring, “for certain, the leverage of blocking the Strait of Hormuz should continue to be use…

Iranian official threatens Strait of Hormuz closure, says war will end only on Tehran’s terms

Rezaei, now a member of Iran’s Expediency Council, said security in the Gulf and the strait “should be managed by the countries of the region themselves,."