Some analysts said the main international oil price, which was up 6 percent on Monday, could climb much higher in the coming weeks if the Strait of Hormuz doesn’t reopen.
An oil refinery in Carson, Calif. The possibility of continued fighting has raised concerns about how long the world’s stockpiles of oil and fuels will last if the Strait of Hormuz does not reopen.
Pacific Palisades, Calif., on Jan. 7, 2025. Fires in the Los Angeles area last year burned at least 90 square miles, killing at least 31 people and displacing more than 150,000.
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