Commodities
Hormuz Tensions Send Crude Prices Soaring Amid Blockade Row
Crude oil prices have risen sharply as tensions escalate over the Strait of Hormuz. Tehran has set conditions for reopening the vital waterway, which handles around a fifth of global oil shipments.
The Islamic Revolutionary Guard Corps is demanding an end to a US naval blockade before it permits full traffic through the strait.
Washington is pressing for guarantees that attacks on commercial vessels will cease. Mediation efforts have sought to break the deadlock, but a durable arrangement has yet to materialize.
The standoff has left energy markets on edge, with traders pricing in the risk of a prolonged disruption squeezing global supply.