The ongoing Iran war and the consequent disruption in the Strait of Hormuz is no longer just an oil story. As supply delays stretch into weeks, the ripple effects are beginning to show up across a range of industrial inputs.
The United Kingdom, alongside Japan, Germany, and the Netherlands, has now issued a joint statement condemning Iran’s actions on the Hormuz Strait. The group is now calling for an immediate halt to threats. Meanwhile, on rising gas prices, Israeli Prime Minister Benjamin Netanyahu said that Iran is blackmailing the world through the Strait of Hormuz.
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