Burning ships in the Strait of Hormuz are pushing global oil prices past $100 a barrel as the Iran conflict spreads to sea, according to The National News Desk.
Officials say at least three merchant vessels were struck overnight, including a container ship that caught fire. Maritime security groups raised the regional threat level to “critical” as attacks on tankers and cargo ships increase.
The narrow waterway carries about 20% of the world’s oil supply. Gas prices have already jumped about 35 cents in a week, reaching roughly $3.60 per gallon, while nations scramble to release emergency oil reserves.
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