Energy prices, shipping costs and supply chains have all whipsawed since, feeding into inflation, credit conditions and business confidence. The Strait carries around a fifth of global oil consumption and roughly 20% of liquefied natural gas trade, figures cited by the US Energy Information Administration, which explains why the chokepoint’s closure has rippled so far beyond the region.
Iran war to tip 15,000 more firms into insolvency, Allianz warns
By Awais
