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Fossil fuels dominate global energy market as Hormuz uncertainty drives volatility
Posted
July 12, 2026
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July 12, 2026
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12:21Now PlayingLiveNOW’s Austin Westfall is speaking with Axios energy reporter Ben Geman as the United States launches new strikes aimed at Iran and the Strait of Hormuz. This comes as a Cyprus-flagged container ship struck by Iran suffered "significant engineroom damage" and a civilian crew member is missing according to U.S. Central Command. Senior U.S. officials had previously said in Washington that negotiations to further cement last month's deal to end the war will be unable to progress without the strait being secure.
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