The war in the Middle East may feel a world away, but its effects are showing up much closer to home-at the petrol pump, in your grocery bill, and in just about everything that has to be shipped, flown, or made from plastic. With the Strait of Hormuz effectively shut since late February and roughly a fifth of the world's oil supply caught in the crossfire, the ripple effects have reached Singapore.It's easy to tune out the headlines when your feed is a blur of doomscrolling, hot takes, and AI-generated nonsense. But while we keep scrolling, the rest of us are quietly footing the bill. Here's what that's actually costing you in 2026.1. Why did oil prices increase in 2026?About 20 per cent of the world's oil supply passes through the Strait of Hormuz, which lies in between Iran and the UAE. Since there is a blockade in the Strait as ceasefires have been breached, ships are either stuck or are turning away to avoid being attacked.Put simply, there's a global shortage in the supply of oil. And when things-like oil-are scarce, prices rise as the demand for the precious resource still holds. Read more