UK faces recession if Strait of Hormuz stays closed, forecaster warns

UK faces recession if Strait of Hormuz stays closed, forecaster warns  Reuters

EY’s latest economic outlook also warns that inflation could rise to 6.4% as oil and gas prices soar

More than 1,500 vessels near the Strait of Hormuz have been stranded for months amid Middle East conflict, which could unleash a marine "super-spreader event".

State of the Union: President Trump met with his cabinet as oil prices stayed elevated.

US says Strait of Hormuz ‘remains open’ The US military says the Iranian government’s claim that the Strait of Hormuz is closed is “false”. “The Strait of Hormuz remains open for commercial vessel transit. Iran does not control it. Thousands of ships have sailed through the international waterway over the past fo

Indian sailors manning merchant vessels have died in attacks on commercial shipping, caught in the cross-hairs between the United States and Iran, and between Russia and Ukraine