‘Price of everything is going to skyrocket’: Trump move sparks fears of economic crisis

The Trump administration’s attack on Iran Saturday morning has prompted Tehran to suspend all travel through the Strait of Hormuz, a strategically vital shipping channel through which around a fifth of the world’s oil trade passes through regularly, sparking fears of an impending economic crisis in the United States and the world at large.

“The [Strait] of Hormuz is closed. Oil tankers are clogged up,” wrote Maram Susli, a Syrian-born political commentator and analyst, to their nearly 540,000 followers on X.