
Oil prices surge following US announcement of Hormuz blockade
Crude prices are soaring, pushing inflation up and sending shivers across global economy.
Stories and analysis from The Northern Express Herald.
Ceasefire agreement tested after Iran closed Strait of Hormuz.
The sanctioned tanker the Universal was banned from British waters in September.
The talks follow a fragile two-week ceasefire agreed between the US and Iran.
More than 800 ships remain stuck in the Gulf as traffic slumps 95%.
Auckland's biggest ferry company says fuel costs jumped 92% in just two weeks.
Trump said it was a 'big day for World Peace!'
The bank discussed the possibility of earlier interest rate hikes to head off inflation.
Fuel prices have risen with the war, but there is talk a key shipping route will reopen.
Iran now forces tankers through a narrow 'tollbooth' corridor off its coast.
Family firm says carefully sourced goods trashed when passing through US.
The Middle East conflict has pushed global dairy and aluminium prices higher.
The Prime Minister wouldn't commit to widening support.
OPINION: More renewable solar energy is needed, not further reliance on fuel imports.
Iran says the US A-10 aircraft was downed near the Strait of Hormuz.
The US President warned there would be further destruction unless Iran came to the table.
The Security Council draft backs ‘all defensive means’ to keep shipping lanes open.
Around a fifth of the world’s oil and gas normally passes through the strait.
The meeting will assess measures to restore freedom of navigation.
ASB economists warn weekly living costs could jump by about $55 this year.
Channel Infrastructure expected to tanks refurbished in two months' time.
Iran flatly rejected Donald Trump's claim that Masoud Pezeshkian sought a truce.
Critics, including Pauline Hanson, slammed the address as empty.
The Australian PM spoke to his nation amid Middle East war and fuel crisis.
'A nightmare': Diesel now averages $3.51 a litre, overtaking unleaded 91 at $3.43.
ANZ's Business Outlook survey captures the reaction to the March oil shock.
Trump has recently suggested Iran may be left in control of traffic through the Strait.
The Middle East conflict continues to impact fuel pricing and supply.
Repairs must be approved by Bahamas and inspectors before sailings resume.
Prime Minister Christopher Luxon said the Government would be 'more assertive'.