48 resultsfor “Impact of Strait of Hormuz closure on oil prices”
Strait of Hormuz, through which 20 percent of the world’s oil and liquefied natural gas (LNG) supplies are shipped in peacetime. Experts say this has also disrupted pharmaceutical supply chains, which are reliant
oil prices to soar. Later, [Iran began charging tolls](/news/2026/3/26/tehranstollbooth-how-iran-picks-who-to-let-through-strait-of-hormuz) for passage through – a move until now unheard of for a strait. Despite a fragile ceasefire, Washington, in an attempt to pressure Iran, has imposed
prices down for a second day on Wednesday. Asian stocks rose while the safe-haven dollar stabilised after falling for a seventh straight session overnight. **Welcome to the Guardian’s continuing coverage of the crisis
oil, have risen more than 80 percent since the US and Israel launched their war on Iran in late February, prompting airlines to hike fares, reduce their schedules, or both. In the starkest example
closure of the Strait of Hormuz - the narrow waterway which separates Iran from Oman. The strait is deep enough for the world's biggest tankers carrying crude oil, and when everything is running normally
oil price significantly, albeit temporarily, bringing profits to those who bet the right way. [Recent reports](https://www.theguardian.com/business/2026/apr/08/polymarket-trump-us-iran-ceasefire) confirmed that Trump’s volatility has been making [lots of money](https://www.bbc.co.uk/news/articles/cge0grppe3po) for those
closure of the strait, which is the only sea route from the Gulf to the open ocean, has “walled in” 20 million barrels of Gulf oil per day, George Voloshin, an independent energy analyst based
prices amid the Middle East conflict. 3. ***UK news***| A British crew member who became ill after a suspected outbreak of hantavirus on luxury cruise ship the MV Hondius [is to be medically evacuated