Iran announced the establishment of a maritime "no-navigation zone" near the Strait of Hormuz; shipping traffic … | Longbridge

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Sep 8 at 04:25 AM

Iran announced the establishment of a maritime "no-navigation zone" near the Strait of Hormuz; shipping traffic there has reportedly collapsed to its lowest level in five months, pushing US gasoline and diesel prices to record highs.

The shipping market is fueling the fire: amid soaring oil prices, large vessels rerouting, and an impending tariff war, freight rates can only be raised further, thereby becoming a driver of inflation.

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