EnergyHighScore 8.0

Shipping officials say US blockade of Strait of Hormuz increases volatility as Iran redoubles efforts to keep it shut.

Shipping officials report the US blockade of the Strait of Hormuz has increased volatility in the area, as Iran intensifies efforts to keep the strait closed.

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Shipping officials report the US blockade of the Strait of Hormuz has increased volatility in the area, as Iran intensifies efforts to keep the strait closed.

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Global energy prices surge since January 1, 2026, led by a 102% increase in gasoline costs and a 73% rise in Brent crude oil. Heating oil and European gas also saw sharp gains as markets react to current supply conditions.

Global energy prices have surged significantly since January 1, 2026, with gasoline rising 102% and Brent crude oil increasing by 73%.

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