The closure of the Hormuz Strait is driving up fuel prices, while US tariffs are impacting global shipping rates affecting markets like Montreal.
Steady: 0 in the last 7 days
Updated oct 23
The latest in this situation
How it started
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What happened
The closure of the Hormuz Strait is driving up fuel prices, while US tariffs are impacting global shipping rates affecting markets like Montreal.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.- Container prices from China to U.S. Coasts are rising amid attacks on vessels passing through the Strait of Hormuz.Sub-event
Hormuz closure drives fuel price hikes, impacting global shipping rates between East Asia and the US market.1 source
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The entities involved
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Hormuz
city in Hormozgan Province, Iran
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East Asia
eastern region of Asia
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Freightos
Israeli logistics company
Nothing else this week.
Related events
- Geopolitical tensions in the Middle East are driving oil prices up, leading to inflation risk for the Fed and strengthening the dollar.
- Strait of Hormuz disruptions are affecting global energy supplies, leading to higher costs and ECB rate hikes in Europe.
- Trump and Putin struck a deal to import diesel to North America amid supply issues in the Strait of Hormuz.
- Strait closure threatens global energy supplies following attacks on shipping in the Middle East.
- Mining operations in Antofagasta are facing impacts due to rising fuel costs linked to disruptions in the Strait of Hormuz.