Disruption in the Strait of Hormuz is halting oil trade and hiking prices

Oil prices have seen their biggest weekly increase in six years while experts warn energy bills could rise by 10 per cent in July

Warnings issued that oil and gas production in the Gulf could be halted entirely in the coming days, as commodity prices and stock markets are being hammered

Disruption in the Strait of Hormuz is halting oil trade and hiking prices

President Donald Trump tried to downplay concerns about rising U.S. gas prices