Asia is paying a very heavy price for the Iran war
From our UK edition
This week, Sri Lankans took Wednesday off. They’ll be doing the same next week – and for as long as the Iran war continues to disrupt global oil supplies. The country’s president Anura Kumara Dissanayake announced a four-day week in order to preserve fuel. Around 90 per cent of all energy supplies that pass through the Strait of Hormuz are imported by Asian countries, which are bracing for the impact of the strait currently being choked by Tehran. Oil prices have crossed the $110 per barrel mark, surging by almost 40 per cent since the start of the conflict on 28 February.