Energy

Strait of Hormuz disruption hits energy, fertilizer and industrial trade - UN News

Source: UN News

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DW NOTE

The UN is reporting that a strait closure affecting 20% of global oil trade is also disrupting fertilizer and industrial feedstocks. Four months in, markets have priced the oil shock; they have not priced what happens when ammonia plants in the Gulf can't ship product and potash from Jordan sits in warehouses with no export route.

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For the first four months of the war between the United States and Israel and Iran, oil traders remained largely bearish. The overwhelming expectation was that the war would end soon—even as July rolled around—and oil flows out of Hormuz would recover. Instead, the world is slipping into a fuel shor

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