Eyes on the Strait of Hormuz as oil tankers start moving
6/18/20269 min
US and Iranian officials have signed a 'memorandum of understanding' to end the war which began in March. Oil and LNG prices are expected to fall as ship traffic resumes.
Dozens of Ukrainian drones have struck the biggest oil refinery in Russia's capital Moscow. Many parts of Russia have suffered fuel shortages in recent weeks.
And Cuba's Communist government has approved reforms to try and revive its economy in the face US oil blockade.
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First 90 secondsMimi Swabi0:00
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Stephanie Baker· Guest0:03
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Sarah Rogers· Host0:48
[instrumental music] The first tankers cross the Strait of Hormuz under the new Iran deal. We hear how they're navigating an underwater minefield. It's World Business Express from the BBC World Service. I'm Sarah Rogers. [upbeat instrumental music] We also hear from Russia as fuel shortages hit drivers, and Apple users feel the crunch as chip costs push up prices. But first, yes, eyes are on the Strait of Hormuz as tankers start moving through that vital shipping route. It follows President Donald