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.
The president said the U.S. could accompany tankers through the Strait of Hormuz if necessary to keep oil flowing. “We’ve already won in many ways, but we haven’t won enough,” he said.
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.
U.S. strikes have heavily targeted Iran’s large ships and bases, but its Revolutionary Guard navy is a more nimble force.
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 conflict in Iran may give Moscow a short-term boost economically and in Ukraine. But it has also shown the limits of Russia’s partnerships.
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.
Energy prices continued to rise on Tuesday as attacks by the United States and Israel on Iran intensified, along with the country’s response.
It is not clear who attacked the tanker, Stena Imperative. Its U.S. operator, Crowley, described “aerial impacts” and said that a fire on board was quickly extinguished.