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Euronews

Doloresz Katanich

Why the Strait of Hormuz remains critical for the global economy

Oil Economy the Strait of Hormuz Iran Hormuz Strait Natural Gas United States Gulf

As oil prices are climbing after the attacks on Iran by Israel and then the US, investors are closely watching the fate of a narrow sea passage in the Middle East.

The Strait of Hormuz is vital for gas and oil exporters in the Gulf region, as this is the only route by sea to export large volumes of oil and gas produced among the oil-rich countries in the region.

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