The Strait of Hormuz must stay open
When the strait’s traffic resumed fully after the 2019 incident, oil prices stabilised within 48 hours, shipping costs fell by 12 per cent, and global supply chains regained liquidity.(Photo by AMIRHOSSEIN KHORGOOEI / ISNA / AFP) / The Strait of Hormuz is the world’s most critical oil chokepoint, and its uninterrupted flow is essential to global stability.
In 2019, when tensions flared and Iran threatened to block the strait, Brent crude jumped 10 per cent within days.
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