Daily brief
The ongoing conflict involving Iran continues to disrupt global oil supplies and drive up prices, with a key concern being the potential shutdown of the Strait of Hormuz. Countries are releasing strategic oil reserves to stabilize markets, while supertankers are being rerouted to avoid the conflict zone. The disruption is also causing rising costs for heating and cooking fuels and problems for exporters of perishable goods.
Iran has escalated attacks on shipping and oil infrastructure in the Gulf, sending prices above $100 a barrel and stalling regional infrastructure projects.
Reports indicate Iran allowed an India-flagged tanker to pass through the Strait of Hormuz, though Iran officially denies granting any special passage.
Hackers claiming to act in retaliation for a school strike in Iran say they attacked a US firm, while a separate report details a hack on medical devices.
Mortgage rates have climbed to 6.11% as the conflict roils financial markets.