India, July 19 -- Fighting in the Middle East has started again even after a ceasefire was announced in June, with new strikes taking place and US President Donald Trump reimposing a naval blockade. The renewed tensions have raised fears that oil supplies moving through the Strait of Hormuz, one of the world's most important oil routes, could be disrupted.

Oil prices reacted immediately to the latest developments. They jumped by more than 8% after Trump announced the blockade, according to OilPrice.com. Higher oil prices could have an unexpected impact on millions of Americans who receive Social Security. The reason is that rising oil prices can increase inflation, and higher inflation can lead to a bigger Cost-of-Living Adjustment (COLA...