How Iran war laid bare the world’s reliance on Gulf oil and gas
A significant conflict involving Iran would undeniably lay bare the world’s profound reliance on Gulf oil and gas, primarily through several interconnected mechanisms: 1. **The Strait of Hormuz – A Global Chokepoint:** * **Strategic Importance:** The Strait of Hormuz is the world’s most important oil transit chokepoint. Approximately **20% of the world’s total petroleum liquids […]
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Economy