The situation in the Strait of Hormuz have spiked global oil prices and sparked concern of potential recession. Brent crude is now more than 100 dollars a barrel up from around 70 before the crisis began.
— Al Jazeera English (@AJEnglish) March 15, 2026
But how is the price of oil decided? Al Jazeera’s Ama Boateng explains. pic.twitter.com/wQSwVWma4o
https://x.com/AJEnglish/status/2033219170876416293
It’s not just gas prices.
— Selina Wang (@selinawangtv) March 15, 2026
Economists say the war with Iran could hit your grocery bill next.
Why?
Because disruptions in the Strait of Hormuz are pushing up diesel, fertilizer, and shipping costs.
Here’s the ripple effect. ↓@ABC @ABCNewsLive pic.twitter.com/3jZGoIHOsW