Energy prices start climbing after war closes Strait of Hormuz down

Since the start of US Israeli strikes on Iran Saturday, the Middle East has been gripped by widespread conflict and chaos, disrupting important shipping routes for oil and other goods. In an attempt to curb rising prices, US president Donald Trump says the US will provide political risk insurance for vessels passing through the strait of Hormuz. Traffic through the strait has been blocked for days as companies fear Iranian attacks on shipping vessels.

Mar 4, 2026 - 18:00
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Energy prices start climbing after war closes Strait of Hormuz down
Since the start of US Israeli strikes on Iran Saturday, the Middle East has been gripped by widespread conflict and chaos, disrupting important shipping routes for oil and other goods. In an attempt to curb rising prices, US president Donald Trump says the US will provide political risk insurance for vessels passing through the strait of Hormuz. Traffic through the strait has been blocked for days as companies fear Iranian attacks on shipping vessels.

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