Strait of Hormuz Standoff Threatens Global Oil Supplies Oil prices have reached near four month highs as Iran and Oman delay talks over control of the Strait of Hormuz, sparking concerns about global energy security.
This is not just a local issue; its far reaching implications affect economies worldwide.
The postponement of the meeting in Muscat was announced by Oman's Foreign Minister Badr Albusaidi, who cited the need for consensus among regional countries.