Mideast ocean freight charges soar on Iran, Strait of Hormuz dangers

Mideast ocean freight charges soar on Iran, Strait of Hormuz dangers

Tankers are seen at the Khor Fakkan Container Terminal, the only natural deep-sea port in the region and one of the major container ports in the Sharjah Emirate, along the Strait of Hormuz, a waterway through which one-fifth of global oil output passes on June 23, 2025. Giuseppe Cacace | Afp | Getty Images Ocean … Read more

International oil costs soar after Israel assaults Iran

International oil costs soar after Israel assaults Iran

Global oil prices jumped after Israel said it had struck Iran in a dramatic escalation of tensions in the Middle East. The price of the benchmark Brent crude rose more than 10%, reaching its highest level since January, before losing some gains. Traders were concerned that a conflict between Iran and Israel could disrupt supplies … Read more