Middle East shipping disruptions push oil buyers to West Africa and Latin America

The US dollar-dominated global oil trading system is being tested by the Iran war and the closure of the Strait of Hormuz, as governments in major consuming nations turn to…

Middle East shipping disruptions push oil buyers to West Africa and Latin America

IEA warns Hormuz Strait crisis could push global oil markets into a ‘red zone’, draining emergency reserves and driving up fuel prices worldwide.