Rising Fuel Costs Pressure Airlines and Truckers
The price of jet fuel and diesel has surged since the war in Iran began, which could force airlines and trucking companies to pass on higher costs to their customers.
The price of jet fuel and diesel has surged since the war in Iran began, which could force airlines and trucking companies to pass on higher costs to their customers.
Pakistan, Iran’s neighbor, has been striving to remain neutral in the conflict. But its government and military have been forced to act to protect its economy.
President Emmanuel Macron said the warships would help protect France’s allies in the region, and could be part of a force to escort ships through the Strait of Hormuz. He said the war could continue for “several days, maybe several weeks.”
Finance ministers for the seven industrialized countries met on Monday and said they would consider releasing oil from reserves but were not ready to do so now.
Our business reporter Peter Eavis looks at the global implications of the Strait of Hormuz, the narrow waterway to the south of Iran. He analyzes ship activity in the strait, comparing it before and after the United States and Israel initiated attacks …
The United States has long considered Iranian naval ships a serious threat, even as the country’s nuclear and missile programs dominate discussions of its military capabilities.
Iran’s foreign minister accused the United States of committing an “atrocity at sea,” after a U.S. Navy submarine attacked an Iranian frigate in the Indian Ocean.
NATO downed a missile fired by Iran at Turkey, and a U.S. sub sank an Iranian Navy ship off Sri Lanka, thousands of miles from the war zone.
The two nations, as well as Greece, said they would send assets to the region. The Netherlands was weighing a request to join them.
Defense Secretary Pete Hegseth said it was the first such strike since World War II. The Sri Lankan authorities said they had rescued 32 sailors from the crew of 180.