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The escalating Iran-Israel conflict is threatening to cripple global trade, with oil prices surging past $130 per barrel. The Strait of Hormuz — a vital chokepoint for 20% of the world’s oil — faces potential closure, rattling energy markets and shipping routes.
Major cargo companies are rerouting vessels, while insurance costs for Middle Eastern shipping have soared. Global supply chains are once again at risk, raising inflation concerns and destabilizing financial markets.
If the war widens, experts warn of a major global economic shock. The world watches anxiously
