00:00It's Benzinga, bringing Wall Street to Main Street
00:02Oil prices climbed as the Strait of Hormuz remained effectively closed following Iran's
00:06retaliation to U.S. and Israeli strikes, disrupting a key global energy route, according to Al
00:12Jazeera.
00:13Brent crude rose above $106 before easing to $104.63, marking a more than 40 percent increase
00:21since the war began, while shipping traffic dropped sharply to about five daily transits
00:26from a historical average of 138.
00:28Trump urged global allies to assist in reopening the Strait and warn NATO of consequences if
00:34support fails to materialize, but countries including Japan and Australia said they have
00:39no plans to deploy naval forces.
00:41Global oil prices have jumped more than 40 percent since the war began, raising fuel costs
00:47and increasing concerns about a global economic slowdown.
00:50For all things money, visit Benzinga.com.
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