Fuel Protests Cause Transport Chaos in Ireland as Iran War Spikes Prices
The Irish government said it had called in the army after protesters blocked highways, ports and an oil refinery, causing widespread disruption.
The Irish government said it had called in the army after protesters blocked highways, ports and an oil refinery, causing widespread disruption.
The war with Iran is preventing huge amounts of oil from flowing out of the Persian Gulf, but the prices that many people track don’t fully capture the scale of the disruption.
Investors were in a more sober mood after sharp moves on the previous day.
The conflict in the Middle East has left the Federal Reserve braced for higher inflation, with more officials open to the possibility of rate increases.
Analysts said oil and natural gas energy companies would not quickly restore production unless attacks stopped and ships started moving through the Strait of Hormuz.
President Emmanuel Macron of France expressed disapproval about President Trump’s handling of the war against Iran on Thursday, chastising him for speaking cavalierly in a speech.
Iran continued to retaliate across the region on Tuesday but markets saw hopes that fighting might ebb. Israel said it would occupy a large chunk of Lebanon even after the war ends.
The effects of the war in Iran are squeezing consumers, businesses and governments around the world, raising the prices of many essential goods.