The effective closure of the Strait of Hormuz is "about as wrong as things could go" for global oil markets. Iran achieved it not with a naval blockade, but with cheap drones. The effective closure of the Strait of Hormuz, a vital waterway through which about 20% of the world's crude oil and natural gas typically passes, has roiled global energy markets. "When analysts have looked at the things that could go wrong in globa... [4841 chars]
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