Oil costs have risen by not less than 9% as far as battle escalates within the Middle East – the world’s foremost oil-producing area and a serious centre for maritime commerce.
The Strait of Hormuz, a world "choke point" managed by Iran, handles a fifth of the world’s oil commerce and Sky’s Ed Conway says "right now, not many ships are passing through it."
Read extra: https://news.sky.com/story/markets-latest-oil-prices-spike-as-key-shipping-route-disrupted-by-iran-attacks-13514091
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