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Shares rally, oil slumps as Iran-Israel ceasefire goes into effect ReutersLive updates: Trump announces Israel-Iran ceasefire; attack on Al Udeid Air Base in Qatar CNNKatz instructs IDF to ‘respond forcefully' after Iran breaks ceasefire with missile attack The Times of IsraelTrump says the war is over. How 14 bombs may change the Middle East The EconomistTrump says Israel and Iran
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The world has held a close eye on the Strait of Hormuz lately with Israeli and U.S. strikes on Iran. Nearly a quarter of the world's seaborne oil passes through the narrow waterway, and many are worried Iran could shut the strait down. Today on the show, we explore what it would mean for Iran to close off the strait, and what insurance could tell us about tensions in the Middle East.
Related episodes: Oil prices and the Israel-Hamas war (Apple / Spotify) How the 'shadow fleet' helps Russia skirt sanctions (Apple / Spotify)
For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money via Apple Podcasts or at plus.npr.org.
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Stock Market News June 23, 2025: Stocks Rise, Crude Oil Falls After Iran Launches Missiles at U.S. Base in Qatar WSJHow Missile Defense Works (and Why It's Hard) The New York TimesIran strikes back, the US calls it quits… is that it? Sky NewsWarships, troops, bases: A look at US military assets in the Middle East Australian Broadcasting CorporationNo casualties reported after Iran missile attack on U.S. base in Qatar Axios
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Brent slides most in three years after Qatar repels Tehran's attack on US air base near Doha
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If Iran moves to blockade the Strait of Hormuz, oil and gas prices could spike, but analysts see that scenario as unlikely for now.
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