Pretty much all prices go up because oil is up 50% and is involved in so many things. It's not just oil and energy, there are other resources that go through Hormuz and the Red Sea. They saw TACO tuesday play out again and have been emboldened.
Also should be considered that some of the facilities that produce these resources are down for months to over a year. Hormuz being "open" does not mean traffic goes back to normal either.
