Russia's Sechin says U.S. companies benefit from the closure of the Strait of Hormuz

Closures of the Strait have driven oil prices to multi-year highs, intensifying inflation pressures and undermining global growth expectations. The move is a broad macro shock that is likely to keep markets in risk-off mode and could weigh on energy-intensive sectors and consumer spending.

Analysis

Closures of the Strait have driven oil prices to multi-year highs, intensifying inflation pressures and undermining global growth expectations. The move is a broad macro shock that is likely to keep markets in risk-off mode and could weigh on energy-intensive sectors and consumer spending.