Oil Prices Surge as US Strikes Iran, Reversing Slide to Pre War Levels The recent spike in oil prices, triggered by the US strikes on Iran and the revocation of a temporary waiver on Iranian oil sanctions, is more than just a market fluctuation – it's a canary in the coal mine for global trade.
The world's most critical waterways are under increasing threat, creating a perfect storm that could reshape international commerce.
The Strait of Hormuz, where recent attacks on commercial vessels took place, is not merely a narrow chokepoint; it's the lifeblood of global oil exports.