fromwww.cbc.ca
10 hours agoOil hits $90 US per barrel for first time in 2 years | CBC News
The widening war in Iran and the risk of Iranian drone or missile attacks has shut down almost all tanker traffic through the Strait of Hormuz, the only sea passage out of Persian Gulf and the conduit for 20 per cent of the world economy's oil needs. Tankers travelling through the strait, which is bordered in the north by Iran, carry oil and gas from Saudi Arabia, Kuwait, Iraq, Qatar, Bahrain, the United Arab Emirates and Iran.
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