What’s unfolding right now is not just another West Asian flashpoint – it’s a direct jolt to the global economy. At the centre of it all is the Strait of Hormuz, the narrow maritime corridor between Iran and Oman through which nearly one-fifth of the world’s oil flows. After fresh U.S.–Israel strikes and Iran’s retaliation, vessels reportedly received radio warnings claiming passage could be restricted. There’s no formal closure but markets don’t wait for paperwork. Oil prices are reacting, insurers are raising war-risk premiums, and shipping decisions are freezing.
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