Oil holds above $105 as U.S.-Iran tensions slow Hormuz shipping
Business
Oil is holding steady above $105 a barrel, mostly because shipping through the Strait of Hormuz, a key route, has slowed way down due to U.S.-Iran tensions.
With daily oil flow dropping from around 17 million barrels to under 10 million, supply is tight and everyone's feeling the squeeze.
Saudi rebounds, coal rises, US inflation
Saudi Arabia's oil output has bounced back a bit but still faces threats from ongoing attacks.
Meanwhile, expensive LNG means power companies are switching back to coal, pushing coal prices close to three-year highs.
On top of that, investors are watching US inflation closely since it could impact interest rates and the dollar, making the whole energy scene even more unpredictable.