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12 hours agoTrump's threat to blockade Hormuz: Why it's war's latest major escalation
Washington's blockade threat risks undermining the fragile US-Iran ceasefire.
"There are very real physical manifestations of the closure of the Strait of Hormuz that are working their way around the world through the system that I don't think are fully priced in," said Chevron CEO Mike Wirth.
The fire at Primorsk is a significant blow to Russia's oil export capacity. Even a brief shutdown could create significant ripple effects throughout the global energy markets, introducing increased volatility and uncertainty that could affect consumers and businesses alike.