U.S. President Donald Trump said Sunday that he has "demanded" about seven countries heavily reliant on Middle East oil join a coalition to escort vessels through the Strait of Hormuz, a key waterway through which about 20 percent of the world's oil passes.
Energy price surge worsens Europe's cost-of-living pressures2026-03-10
A sharp rise in oil and gas prices amid escalating tensions in the Middle East and fears that the Israel-United States war on Iran could disrupt supplies through the Strait of Hormuz is intensifying Europe's cost-of-living pressures.