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Iran strikes spark fears oil price rise will drive up costs

Wall Street is bracing for a potential surge in oil prices after United States and Israeli strikes on Iran heightened fears of disruption in the Strait of Hormuz, a vital route that carries about one fifth of the world's oil and gas. Brent crude has already climbed sharply this year and could rise toward 100 dollars a barrel if shipping through the narrow waterway is significantly disrupted.

Any sustained spike in crude would likely ripple through the United States economy. Higher oil prices would push up costs for gasoline, groceries, air travel and manufactured goods, while also lifting overall inflation. Analysts warn that a prolonged increase could add noticeably to consumer price growth and delay planned interest rate cuts, raising borrowing costs for mortgages, credit cards and auto loans.

Although a სრული closure of the Strait would be difficult, even partial disruptions such as missile threats, mining risks, higher insurance premiums and diverted tankers could slow shipments enough to rattle markets. Some major oil producing countries have pledged to increase output to stabilize supplies, but the path of prices will depend largely on whether energy flows through the Strait return to normal in the coming days.

Original article source: https://www.dailymail.co.uk/yourmoney/article-15604749/oil-shock-iran-strikes-fears-crude.html
Source Id: 2026-03-995218684

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