Strait of Hormuz Shipping Disrupted After Four-Week US-Israel Iran War

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Published: 2 hours ago

The Strait of Hormuz has been effectively closed for four weeks due to the US-Israel war on Iran, disrupting global oil and gas supplies. The strait normally carries one-fifth of world's oil and gas through the narrow channel, causing energy prices to soar. Oil price volatility will likely strengthen commodity-linked currencies like CAD and NOK while weakening oil-importing nations' currencies. Energy supply disruptions create inflation pressures affecting central bank monetary policy decisions across major economies.

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