Shipping in the Strait of Hormuz has halted, and global energy prices have risen.
Against the backdrop of escalating tensions between the US and Iran, the number of ships passing through the Strait of Hormuz has significantly decreased. This situation has halted movement through this strategic strait, which is the most important shipping route for oil and gas worldwide.
As a result, significant changes have been observed in international energy markets, with global energy prices sharply rising. The restriction of shipping in the strait is negatively impacting the global economy.
This information was published by The Hindu.