Business News of Monday, 23 March 2026Source: edition.cnn.comOil prices rose Sunday after Iran threatened to shut down the Strait of Hormuz indefinitely in response to President Donald Trump’s ultimatum on the restoration of oil traffic through the critical waterway. Trump this weekend said the United States would “obliterate” Iran’s power plants if the Strait of Hormuz is not reopened by Monday evening. Elevated oil prices are also pushing gas prices higher for Americans paying at the pump. Gas prices will be slow to recover even after the war ends, De Haan told CNN. He said Americans would choose “temporary elevated prices” if it meant decades of peace in the Middle East.

Source: GhanaWeb March 23, 2026 16:16 UTC