Learn English: Oil Costs Increase After Iran Issues Shipping Warning (normal)

1 day, 5 hours ago

Oil Costs Increase After Iran Issues Shipping Warning

Oil prices are climbing as Iran issues a new and serious threat to shipping.

An Iranian official warned that ships entering the Strait of Hormuz will face strong opposition.

This strait is a crucial chokepoint for a substantial amount of the world's energy.

The disruption to shipping is causing the cost to move oil to hit all-time highs.

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Source

Original: BBC News

Tags

#Oil Prices #Iran #Strait of Hormuz #Shipping #Geopolitics

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