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Conflict Disrupts Oil Waterway Traffic
A conflict involving the US, Israel, and Iran has stopped almost all traffic in a key waterway. Brent crude oil prices have risen as a result.
Energy expert Ellen Wald works at the Atlantic Council. She said Brent crude prices should be even higher right now.
Wald said the US could better protect itself from future energy shortages. It could build stronger oil ties with Canada and Mexico.
Klear Note — The Strait of Hormuz is a narrow waterway between Iran and Oman. About one-third of world's oil passes through it daily. When shipping stops there, oil prices rise worldwide.