Iran war pushes plastic packaging costs higher

Oil prices rose again on Tuesday, a day after a sharp decline, amid confusion over which way the Iran war was going.  Brent crude settled well above 100 dollars a barrel. Meanwhile, rising energy costs stemming from the conflict are causing the cost of plastic packaging to skyrocket, which in turn will make everything on supermarket shelves more expensive. But first, the EU and Australia sealed a landmark free trade agreement that will eliminate tariffs on most goods.

By Yuka ROYER