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Six Months In: Iran War Widens as Energy Markets Feel the Shock
More than six months into the war with Iran, the Strait of Hormuz crisis continues to cause turmoil in the Gulf region and global energy markets with no apparent end in sight.
Tanker traffic through the strait has collapsed to a fraction of its pre-war baseline, and the fallout is spreading. Brent crude broke $100 a barrel for the first time since July, and US diesel prices have climbed above $6 a gallon for the first time in history.
The US Navy blockade has all but shut down Iranian oil exports, but the conflict is no longer confined to Iran and the strait. Last week, Saudi Arabia's…
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