As the White House lays the ground work for an extended blockade of Iranian ports, Asian nation will be bracing for further fallout.
The price of oil is surging again after US President Donald Trump said he will maintain the naval blockade on Iran’s ports and vessels unless Iran agrees to curb its nuclear program.
Asian nations, which are heavily reliant on energy exports through the Strait of Hormuz, have borne the brunt of the economic pain from the war that has stretched into its 9th week. Everything is in short supply, from crude and natural gas to plastics and fertilizers.
Brent crude is now trading at $120 a barrel. On…