The closure of the Strait of Hormuz, a critical oil chokepoint, has reduced Persian Gulf oil output by 14.5 million barrels daily, potentially driving up oil prices and affecting global markets and economic stability.

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.