Oil prices have risen by at least 9% so far as conflict escalates in the Middle East – the world’s foremost oil-producing region and a major centre for maritime trade.
The Strait of Hormuz, a global "choke point" controlled by Iran, handles a fifth of the world’s oil trade and Sky’s Ed Conway says "right now, not many ships are passing through it."
Read more: https://news.sky.com/story/markets-latest-oil-prices-spike-as-key-shipping-route-disrupted-by-iran-attacks-13514091
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