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strikeAug 18, 2026

Will gas prices fall if companies build oil routes that bypass the Strait of Hormuz? Experts explain

Summary

Alternatives could address the oil shortage but risks abound, some experts said. The largest global oil shock on record has catapulted U.S. gasoline prices above $4 a gallon, rekindled inflation and set the stage for November's midterm elections.

Source: CurrentsAPI — Read the full report

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  • CurrentsAPI

    Alternatives could address the oil shortage but risks abound, some experts said. The largest global oil shock on record has catapulted U.S. gasoline prices above $4 a gallon, rekindled inflation and set the stage for November's midterm elections. It all traces to fighting in a na…

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strikeUnverifiedUSIsraelIranRussia
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Indirect US-Iran talks concluded without a deal, according to reports. The United States and Israel launched a military campaign against Iran in late February, which disrupted global energy supplies and shipping through the Strait of Hormuz. Media reports suggest Washington could resume strikes after the November 3 midterm elections, following repeated threats from US President Donald Trump.

Location: Iran