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Strait of Hormuz Disruption Raises Global Energy and Food Security Concerns

The UN Conference on Trade and Development reports a 97% drop in Strait of Hormuz traffic, triggering surges in energy, fertilizer, transport, and insurance costs reminiscent of pandemic and Ukraine war supply shocks.

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Terms & Concepts
  • Strait of Hormuz: A strategic waterway connecting the Persian Gulf with the Arabian Sea, through which around 20% of global oil and LNG exports pass.
  • UN Conference on Trade and Development (UNCTAD): A United Nations body that monitors global trade, investment, and economic development trends, including supply chain disruptions.
  • LNG: Liquefied natural gas, a form of natural gas cooled to liquid state for easier storage and transportation.