Schools shut in Pakistan due to energy issues from US-Israel war with Iran | BBC News

The world’s biggest producer of crude oil has warned of “catastrophic consequences” if the Strait of Hormuz remains blocked to shipping for an extended period.

Aramco said the longer the disruption to oil exports went on, the more drastic the impact to global exports would be.

The price of oil has fallen from yesterday’s highs but fears of further volatility remain.

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