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US Faces Crisis as 180 Million Barrels of Iranian Oil Float in Sea Amid Hormuz Strait Fire
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US Faces Oil Crisis: 180 Million Barrels of Iranian Oil at Sea Amid Soaring Prices
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News18
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21-03-2026, 23:53
US Faces Oil Crisis: 180 Million Barrels of Iranian Oil at Sea Amid Soaring Prices
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West Asia tensions are causing global fuel price hikes, impacting the US economy.
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United Airlines CEO warns crude oil could hit $175 per barrel, doubling jet fuel costs.
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Brent crude oil prices have surged from $70 to $119.50 per barrel.
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US Treasury issued a 30-day waiver for Iranian oil shipments loaded by March 20, to be unloaded by April 19.
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Approximately 180 million barrels of Iranian crude oil are currently at sea, potentially easing global supply.
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