For every day the war in the Middle East drags on, the crisis in energy markets deepens. The price of everything from gas and oil to jet fuel and plastics is rising sharply. That crisis is set to get dramatically worse over the next week or two. Energy shipments stopped in their tracks on February 28 when the war began and Iran effectively closed the Strait of Hormuz. WATCH | Canada pitches energy projects at oil conference:Meanwhile, oil industry executives and policymakers are meeting in Houston for the annual CERAWeek conference, often described as the energy sector's version of Davos.

Source: CBC News March 26, 2026 15:31 UTC