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The world has held a close eye on the Strait of Hormuz lately with Israeli and U.S. strikes on Iran. Nearly a quarter of the world's seaborne oil passes through the narrow waterway, and many are worried Iran could shut the strait down. Today on the show, we explore what it would mean for Iran to close off the strait, and what insurance could tell us about tensions in the Middle East.
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For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money via Apple Podcasts or at plus.npr.org.
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Trump Confronts Potential for High Oil Prices After Iran Strikes The New York TimesStock market today: Dow, S&P 500, Nasdaq jump, oil slides on Iran's restrained response to US strikes Yahoo FinanceOil prices jump after U.S. strike on Iranian nuclear facilities NBC NewsMorning Bid: Now the ball is in Iran's court Reuters
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Hope for a de-escalation in the conflict was most evident in the energy market, where oil prices fell more than 7 percent.
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