Commentary: Could this energy crisis be worse for the global economy than COVID-19?
Uniunea Europeana
For some countries in Asia, elevated oil prices quickly translate into higher food prices, inflation and economic instability, says this academic. OXFORD, England: Despite reports of negotiations between the US and the Iranian regime, the Strait of Hormuz remains effectively closed to most oil tankers, with only a small number of vessels being allowed to pass . The result is a loss of roughly 11 million barrels per day of oil and petroleum liquids to the global market. This represents just over
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