Oil News: Crude Oil Futures Climb as Energy Infrastructure Attacks Threaten Supply

Since the war began on Saturday, tankers and container ships have avoided the Strait, not only because of the risk of being fired upon by Iran, but due to soaring shipping rates and cancelled insurance for vessels travelling through the waterway. Meanwhile, Iranian media is reporting that a senior Iranian Revolutionary Guards official said the Strait is closed and any ship attempting to pass through it will be attacked. Production Shutdowns Rattle the Market The response from the countries being fired upon ...