Keep pulling the thread on United States.
The United States has implemented a naval blockade of the Strait of Hormuz, which is now in effect and cutting ships off from Iranian ports.
US Vice President J.D. Vance stated that as a countermeasure to Iran's actions, the United States will ensure no Iranian ships can exit the Strait of Hormuz.
A U.S.-sanctioned oil tanker linked to China is attempting to pass through the Strait of Hormuz, posing a major test for the American naval blockade.
Daily ship traffic through the Strait of Hormuz has dropped from a pre-war level of over 135 vessels to between 5 and 10 at best.
Fatih Birol of the International Energy Agency predicts it could take up to two years to recover production from damaged energy facilities in the Middle East.
The European Union has withheld over €17 billion in funding from Hungary due to concerns over corruption and rule of law under the Orban administration.
Hungary's newly elected Prime Minister Peter Mayer has stated he will not block a €90 billion loan from the European Union to Ukraine.
The closure of the Strait of Hormuz removes at least 10 million barrels of oil per day from the global market.
The weekly disruption of LNG traffic through the Strait of Hormuz is equivalent to the amount needed to power all homes in Sydney for one year.
The United States and Iran are reportedly discussing a new round of talks after previous negotiations ended without a deal.
The International Monetary Fund is expected to downgrade its global growth forecast for the current year.
Schroeder's CEO Richard Oldfield warned that oil prices exceeding $100 a barrel represent the pain point for global economic growth.