Strait of Hormuz

Farmers have had to adjust to rising prices and shipping disruptions from the Strait of Hormuz’ closure, on top of existing economic strains like tariffs.

Energy and transportation are two areas where costs are rising for stores like Home Depot, Walmart, and Target, but raising prices could turn off an increasingly strapped consumer.

Fiber optic cables carry internet to much of Europe. To get there, they travel along the floor of the Red Sea.

Until ships start moving through the Strait of Hormuz, prices for oil and a range of related goods will likely keep rising. The question is, how long will it take them to come down again?

Catherine Wolfram, professor of energy economics at MIT Sloan School of Management, talks about how demand destruction actually helps balance the oil market.

As conflict disrupts oil and gas flows through the Middle East, exports from the Port of Corpus Christi have reached new heights, driving jobs and investment along the Texas coast.

The country has been chafing under the cartel’s crude oil production limits.

Countries that have their own refineries and reserves, and that can afford to pay, are facing high oil and gas prices but not shortages. Other countries can't get what they need and are rationing fuel.

The impacts of tariffs and global conflicts mean the usual cycles of shipping no longer apply.

Ships can get cheap war insurance during peacetime. But if a war actually breaks out, much pricier war insurance is necessary.