Oil prices reach $105 amid Strait of Hormuz tensions
Fast facts
- Category: United Kingdom
- Language: EN
- Published: 2026-04-24 02:03 UTC
- Sources: The Independent
Oil prices have reached $105 due to the ongoing tensions between Iran and the US in the Strait of Hormuz. This has affected global trade flows, with businesses paying up to $4 million to cross boats through the Panama Canal (Reuters reports this figure). The Independent notes the impact on stocks in South Korea, China, and Hong Kong.
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