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2026March › 09

Strait

4 months ago

Roughly 20% of global LNG flows through the Strait.
French president says 'purely defensive' mission aims to gradually reopen key Gulf waterway amid spike in oil prices.
The price of crude oil has sharply spiked as the Strait of Hormuz has been effectively closed as the United States and Israel wage war on Iran.
But the French president said the potential operation can't get underway until the conflict in the Middle East cools down.
Oil prices surged above $100 a barrel in the early hours as investors priced in further disruption as the Strait of Hormuz remains effectively shut.
Almost as soon as strikes began, Tehran threatened to close the Strait of Hormuz, where about 20million barrels of oil pass through a day. Now, they have effectively done so.
The escalating situation in the Strait of Hormuz will have painful implications for global shipping as well as the world’s economies.

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