The cost of hauling crude oil from the Middle East to China rose more than 94% to hit a record high of $423,736 per day on Monday.

The closure of the Strait of Hormuz and US-Israeli strikes in Iran are reigniting the specter of a surge in crude oil prices. But the global economy is less vulnerable today than…

LONDON: Asian governments and refiners rushed to assess oil stockpiles as well as alternative shipping routes and supplies as the Iran conflict disrupted shipping in the crucial…