Oil shipments face new disruptions in the Middle East

Oil shipments through the Strait of Hormuz, a critical waterway for global supplies, are facing new disruptions. Iran has warned the strait "cannot be the same," and a key oil loading hub in the United Arab Emirates has suspended operations.

These events have caused oil prices to jump, with a specific type of oil in Oman soaring above $150 a barrel as buyers rush to find alternatives. The White House has stated that oil tankers have begun to move slowly through the strait again, but the situation remains volatile.