No region of the world produces more oil and gas than the countries straddling the Persian Gulf. Most of this energy can only be exported aboard tankers that cross the Strait of Hormuz — a waterway that’s effectively been closed for more than three months since the US and Israel started a war against Iran in late February.
The disruption has rippled through the global economy. Supplies of oil, gas and other commodities have been been squeezed, pushing prices far higher than before the war.
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