Oil tankers and cargo ships line up in the Strait of Hormuz as seen from Khor Fakkan, United Arab Emirates, Wednesday, March 11, 2026.
Altaf Qadri/AP
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Altaf Qadri/AP
Ever since the U.S. and Israel launched a war on Iran, oil prices have been on a rollercoaster but overall have been trending higher. An increase in the price of oil has world-wide consequences with winners and losers. To get a snapshot of where things stand, we hear from three reporters around the world— in Russia, Germany and Taiwan.