strikeSep 24, 2026

Gulf nations have found ways to keep oil flowing through the Iran war, but the costs are mounting

Summary

FRANKFURT, Germany (AP) — When Iran shut down the Strait of Hormuz at the start of the war, choking off sea passage for some 15 million barrels of oil a day, many feared that prices would skyrocket, cratering the world economy.

Source: DAVID McHUGH, AP Business Writer — Read the full report

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Sources

DAVID McHUGH, AP Business WriterBy DAVID McHUGH, AP Business Writer
FRANKFURT, Germany (AP) — When Iran shut down the Strait of Hormuz at the start of the war, choking off sea passage for some 15 million barrels of oil a day, many feared that prices would skyrocket, cratering the world economy. Instead, nearly seven months on, oil is …

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