Shipping costs through the Strait of Hormuz are rising — even as oil prices are dropping. So what happens if Iran closes the waterway?

Increased Costs for Tanker Operators: Tanker operators in the Strait of Hormuz are experiencing rising shipping and insurance costs despite falling oil prices, as uncertainty looms over the region following U.S. military actions against Iran's nuclear sites.

Impact on Oil Prices and Consumers: The future of oil prices remains uncertain, with some shipping costs having more than doubled, indicating potential implications for consumers as the situation develops.