Trump says situation ‘right on borderline’ over Iran war

The article reports escalating US-Iran tensions and stalled negotiations, with Iran establishing a new authority to control Strait of Hormuz traffic. This directly threatens oil and LNG shipments through the strait, a key chokepoint for global crude and gas. Rising petrol prices are already noted, indicating potential supply disruption and increased input costs for refiners and consumers. The impact is global but particularly acute for energy importers dependent on Gulf supplies.