Oil Rises as US Hormuz Plan Leaves Shipowners Guessing

Oil prices rise as tensions in the Strait of Hormuz intensify after Iran attacks a tanker with drones. Ellen Fraser of Baringa discusses persistent supply strain, volatility, and underreported impacts on food prices and vulnerable Asian and African economies. - Oil prices rise amid heightened tensions in the Strait of Hormuz. - Iran attacked a tanker with drones, raising supply disruption risks. - Ellen Fraser says energy volatility is here to stay. - She highlights the underreported impact on food prices via agricultural dependence on energy. - Asian and African economies face the biggest pain points due to crude imports. - Pipelines as an alternative are expensive and vulnerable to attacks. - Geopolitical complications include nuclear agenda and Iran's economic rebuild. - The longer the strait is disrupted, the more profound the global economic impacts.