Surging Fuel Costs Will Hit Supply Chain as Mideast Disruptions Ripple: Seroka

Port of Los Angeles Executive Director Gene Seroka says ship fuel costs have more than doubled in recent weeks amid disruptions in the Strait of Hormuz. He says truckers will feel the pinch first as higher fuel costs ripple through the supply chain. Seroka adds that even the prospect of naval escorts or insurance is unlikely to prompt companies to risk transiting the Strait while tensions remain elevated. He speaks on the late edition of Bloomberg's "Balance of Power." (Source: Bloomberg)