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His comments to CNBC come as the U.S. and Israeli-led war appears poised to enter its third week.

The Trump administration on Thursday stateside announced new trade investigations of 60 economies.

Social media firms need to use better age verification technologies to keep children off their platforms, the U.K.'s Information Commissioner's Office said.

Saudi Arabia's East-West pipeline and the UAE's Abu Dhabi Crude Oil Pipeline are thought to be able to help partially offset the Strait of Hormuz blockage.

Some airlines are already raising fares after a historic surge in jet-fuel costs.

Denmark's energy minister called on citizens to reduce their energy use amid the ongoing Middle East conflict.

The latest incidents in or near the Strait of Hormuz come shortly after Iran warned the world to prepare for $200 oil prices.

Multiple developments are complicating the energy market, and none are calming prices.

The Iran war has rattled global energy markets, but analysts say Europe can avoid a full-blown 2022-style supply crisis.

The move comes as the Iran war continues to choke off traffic through the strategically vital Strait of Hormuz.