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UN Warns Food, Energy Crisis as Brent Stays Above $110

5/22/2026

48 9 Full Breakdown

Left

UN Warns

UN warning about rising food and energy costs harming low-income families in developing nations.
Two tankers, Yuan Gui Yang and Ocean Lily, exited the Strait of Hormuz, carrying four million barrels of crude.
Around 20,000 seafarers remain stranded inside the Gulf aboard hundreds of ships.
Brent’s dip to $110.16 a barrel will not reverse as supply stays below pre-war levels.

Right

Chinese Ship Crosses

Chinese-flagged container ship Zhong Gu Nan Chang was among few vessels crossing the Strait of Hormuz in the past 24 hours strategic waterway.
Approximately 20,000 seafarers remain stranded inside the Gulf on board hundreds of ships as of today.
Fearnleys said the market needs open waterways for shipping, global trade and the world economy.
Stalled U.S.–Iran negotiations keep most traffic out of the Strait of Hormuz, harming regional stability.

History

Historical Context

After OAPEC’s October 1973 oil embargo—led by Saudi Arabia and King Faisal—cut exports by up to 70 % and drove crude from $3 to $12 a barrel, global inflation surged. The embargo’s choke-point at the Strait of Hormuz re-emerged in 2024, leaving about 20,000 crew on vessels such as the Yuan Gui Yang stranded, prompting renewed UN diplomatic appeals.

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UN Warns

UN warning about rising food and energy costs harming low-income families in developing nations.
Two tankers, Yuan Gui Yang and Ocean Lily, exited the Strait of Hormuz, carrying four million barrels of crude.
Around 20,000 seafarers remain stranded inside the Gulf aboard hundreds of ships.
Brent’s dip to $110.16 a barrel will not reverse as supply stays below pre-war levels.

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