Oil prices have soared since the US-Israel war on Iran began, driven by the closure of the Strait of Hormuz

Oil prices have soared since the US-Israel war on Iran began, driven by the closure of the Strait of Hormuz

Officials are monitoring stock levels and planning for any potential disruptions to the supply chain.

Darren Jones suggests cost of energy, food and flights will remain high after de-escalation and Hormuz strait reopens