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How the Strait of Hormuz Affects the Global Economy
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How the Strait of Hormuz Affects the Global Economy
The Strait of Hormuz affects the global economy more than almost any other shipping route, influencing energy prices, inflation, supply chains and business confidence around the world. Roughly one-fifth of the world's oil consumption passes through the narrow waterway between Iran and Oman every day, making it one of the most strategically important trade corridors on the planet. Most consumers will never see the Strait of Hormuz, yet what happe…
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