Closure of Strait of Hormuz Pushes up Polyester Fibre Price

Cargo ship hit in Strait of Hormuz forcing crew to evacuate

The Strait of Hormuz has been closed by Iran after the US and Israel launched an attack at the end of February

One more cargo ship hit in Strait of Hormuz

The incident occurred eleven nautical miles to the north of Oman

Oil Prices Will Remain High as Iran War Continues

While officials look for ways to ease oil shocks, experts say higher prices will likely persist until traffic through the Strait of Hormuz returns.

Strait of Hormuz crisis: War in the Middle East drives oil over $100

Brent crude jumped 17 percent today to trade at $107 a barrel. That’s the highest level since 2022, when Russia’s invasion of Ukraine roiled global energy markets.

Perth petrol to be 35¢ a litre more expensive than last week

Perth’s average petrol price will be about 35¢ a litre more expensive on Tuesday compared with last week, threatening to upend what has become known as ‘cheap fuel’ day.

One Strait, 20 Million Barrels: Could Hormuz Trigger An Oil Shock Bigger Than 1973?

The global oil system has effectively concentrated a fifth of its supply through a single narrow shipping lane with limited redundancy.