
Hormuz Closure Triggers Global Oil Shortage, Food Security Fears
The ongoing closure of the Strait of Hormuz is causing severe global concern, threatening oil supplies, potentially grounding commercial flights due to kerosene shortages, and raising fears of widespread food insecurity. Nations like Thailand are scrambling to secure vital resources such as oil and fertilizer.
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Thailand Rushes to Secure Oil, Fertilizer as Hormuz Remains Shut - Bloomberg.com
Thailand Rushes to Secure Oil, Fertilizer as Hormuz Remains Shut Bloomberg.com
Read full article →Millions will go hungry if the Strait of Hormuz stays closed
Expensive fuel and fertiliser will lead to smaller harvests and higher prices
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AN interesting thing is happening in the oil markets that has not received enough media attention. Given the prolonged closure of the Strait of Hormuz and the severe supply-side crisis that has hit global oil markets, there should by now have been a spiralling rise in the price of oil. But instead, we see it rise slightly above $100 and then drop below. Sometimes this follows the headlines. But overall, a mystery is developing around why oil prices are not seeing massive rises these days, eve...
By none@none.com (Khurram Husain)
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