Shipping through Strait of Hormuz collapses, driving oil prices above $US100 and risking global inflation and interest rate hikes
Zoran Kresovic, Senior Market Analyst at Blueberry Markets, says shipping through the Strait of Hormuz has plunged compared with pre conflict levels, with oil prices likely to remain around or above US$100 a barrel.
He warns that sustained higher oil prices could fuel inflation and pressure central banks worldwide to tighten monetary policy and raise interest rates.
