US President Donald Trump's trade war with Iran is resulting in increased energy costs worldwide, with Iran leveraging its control of the Strait of Hormuz to its advantage.

US President Donald Trump has initiated an international trade war in which American consumers and businesses are bearing most of the immediate costs, and now he has started a war on global energy where people worldwide are paying the price. While Iran is no match for US military might, Tehran has turned its control of the Strait of Hormuz – through which 20 per cent of the world’s crude oil flows – to its advantage. Nations in conflict with the United States do not need to fight back tariff for...