How the war in Iran is impacting global energy markets
Summary
Oil and gas prices rose sharply due to increasing tensions in Iran. The conflict has affected shipping through the Strait of Hormuz, a major route for global oil supply.Key Facts
- Oil and gas prices increased on Monday.
- The rise happened because of the conflict in Iran.
- Disruptions occurred in the Strait of Hormuz.
- The Strait of Hormuz is a key route for oil and natural gas.
- Around 20% of the world's oil and liquified natural gas pass through the strait daily.
