Global oil supplies have been severely disrupted since Iran responded to US and Israeli airstrikes with threats to target vessels in the Strait of Hormuz.<\/p>\n
That has effectively closed the waterway, causing huge disruptions to global supply chains.<\/p>\n
Around a fifth of the world’s crude oil and liquified natural gas (LNG) – as well as other petrochemicals – usually passes through the strait.<\/p>\n
Karex relies on materials derived from oil, including ammonia – which is used to preserve latex – and silicone-based lubricants.<\/p>\n
Demand for condoms has risen by about 30% this year, with higher freight costs and delays to shipping worsening shortages, Goh said.<\/p>\n
“In bad times, the need to use condoms is even more because you’re uncertain with your future, whether you’d still have a job next year,” he told Bloomberg. <\/p>\n
“If you have a baby right now, you’ll have one more mouth to feed,” he added.<\/p>\n
The surge in condom prices underscores how the US-Israel war with Iran, which has already rocked the world’s energy markets, is also pushing up prices of other goods for consumers.<\/p>\n
The war has helped to trigger a surge in air fares<\/a>, with the lowest-priced economy tickets costing 24% more on average than they did a year ago, according to new research.<\/p>\n Meanwhile, disruption to shipments through the Gulf has led to higher fertiliser prices and a shortage of helium, which is used to make computer chips.<\/p>\n