00:00The decision to close the Strait of Hormuz is no longer just a military development in the escalating tensions between
00:08Iran and the U.S.
00:10It has become a global economic warning signal.
00:15The Strait is one of the world's most critical energy arteries.
00:19Located between Iran and Oman, it connects the Arabian Gulf to the Gulf of Oman and the Arabian Sea.
00:27Nearly one-third of the world's seaborne oil passes through it, along with close to one-fifth of global daily
00:34oil consumption.
00:36More than 20 million barrels per day, according to Vortexa data.
00:42Even a temporary closure would trigger immediate disruption in energy markets,
00:47and major shipping companies have already begun rerouting vessels in anticipation of potential risks.
00:54Markets are bracing for a price surge that could approach $100 per barrel if the suspension persists,
01:02raising the specter of a new wave of global inflation.
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