CNN: The Islamic Republic wants to charge the world’s largest tech companies for using the subsea internet cables laid under the Strait of Hormuz, and state-linked media outlets have vaguely threatened that traffic could be disrupted if firms don’t pay. Lawmakers in Tehran discussed a plan last week which could target submarine cables linking Arab countries to Europe and Asia…
Gulf freight rates jump as shipping companies turn to trucks to move cargo
Companies have warned of severe backlogs and extra charges, as shipping lines use alternative land routes to try to ease congestion caused by the near closure of the Strait of Hormuz.
…Freight rates on the Shanghai to Gulf and Red Sea route hit record highs this week, surpassing even the peaks reached during the Covid-19 pandemic…
US, Iran Stall on Hormuz Reopening as Oil Supplies Tighten
Iran said transit through the critical Strait of Hormuz will flow once the conflict with the US and Israel is over, but the sides are no closer to resolving their differences or finding a path to achieve it…
The Oil Shock Is Causing a $45 Billion Rupture in the Economy
Americans have cumulatively spent about $45 billion more on gasoline and diesel during the war with Iran than they did during the same period a year ago, according to an analysis of OPIS pricing data and federal demand figures. The surging costs are eating an outsize share of low- and middle-income consumers’ paychecks, darkening their outlook relative to the well-off.
At the same time, investors in oil-and-gas companies are watching their portfolios swell…