Hormuz Tensions Drive Global Oil Shock, US Gasoline Prices, and Food Security Concerns
An analysis suggests a forgotten historical crisis provides context for today's oil shock amid Hormuz tensions, which are now also driving US gasoline prices to their highest since 2022 and threatening global food security due to rising energy and fertilizer costs.
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How gas prices at $4 a gallon is wrecking U.S. household budgets
Read full article →A Forgotten Crisis Explains Today’s Oil Shock
A Japanese oil tanker slips through the Strait of Hormuz in the dead of night, radio silenced to conceal its position. Iran secures a market for its crude in defiance of Western sanctions. The balance of the world’s energy trade switches from incumbent hegemons toward emerging powers.
By David Fickling
Read full article →US gas price tops $4 for first time since 2022
The average price of gas at the pump has topped $4 in the US for the first time in nearly four years as the Iran war continues to push up fuel prices.
By Deborah Okailey Quarcoo
Read full article →Coverage Timeline
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