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Iran war is spilling into prices and politics

The Middle East is flashing warning lights at once: U.S. strikes on Iran have continued, Tehran says it has closed the Strait of Hormuz, and the fallout is already jumping from diplomacy to markets. Here are the biggest world moves to watch today. [11][28]

  • Oil tankers and cargo ships line up in the Strait of Hormuz as seen from Khor Fakkan, United Arab Emirates, Wednesday, March 11, 2026. (AP Photo/Altaf Qadri)
  • Reuters Two oil tankers pass through the flat blue waters of the Strait of Hormuz under a grey sky.
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Hormuz crisis 🇮🇷🌊 U.S. Central Command says a tanker off Oman was hit, killing 3 Indian sailors, while Iran says retaliation has reached U.S. sites in Bahrain, Kuwait and Jordan. One waterway can jolt global energy overnight. [11]

  • Chinese supertanker Yuan Hua Hu carrying Iraqi oil exits Strait of Hormuz
  • Supertankers pass Strait of Hormuz amid US-Iran ceasefire
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Prices are already reacting: U.S. inflation hit 4.2% in May, its highest in 3 years, and the report says energy made up more than 60% of the monthly rise as gas prices topped a 40% yearly jump. How long before households feel more pain? [11]

  • a man pushing a shopping cart in a store
  • Thick smoke billows from the stack of the Electricite de France coal-fired power plant in Cordemais against a sunset sky.
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Beyond the Middle East, Belfast saw a second night of anti-immigrant riots, with water cannons, 16 arrests and 12 officers injured. The unrest shows how fast fear can turn into street violence when politics gets toxic. [11]

  • a group of people on fire with black smoke coming out of the street
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Which of these stories feels most consequential right now: Hormuz, inflation, or the unrest in Belfast? Reply with your take or retweet for others to weigh in. [11]

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