Good afternoon and welcome to your afternoon news update from AP. Today, the Iran war has blocked the Strait of Hormuz, and reopening it is a big challenge; some U.S states are reviving a push to tax the rich; and newly published files show the British Prime Minister ignored red flags when he appointed Peter Mandelson, a friend of sex offender Jeffrey Epstein, to the U.K.'s most important diplomatic post.
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This image released by the Royal Thai Navy shows a Thai cargo ship, Mayuree Naree, which was struck and set ablaze in the Strait of Hormuz on Wednesday. (Royal Thai Navy via AP) |
The Iran war has blocked the Strait of Hormuz, a vital oil chokepoint. Reopening it is a big challenge |
Gasoline prices are rising largely because of the Iran war’s impact on the Strait of Hormuz, a crucial passageway for oil and gas from the Persian Gulf. The waterway off Iran’s coast, now effectively closed, is so vital for the global economy that governments are working on blueprints to speedily reopen it to shipping when the shooting stops. Retired naval officers say that using warships to escort tankers would make no sense during active combat. They say ships have little room in the waterway to evade attacks. Iran has missiles, drones, fast boats and naval mines. Read more.
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