Why If the War Doesn’t End Soon, Everyone Will Pay

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As the US-Israel war with Iran approaches its third month, many countries around the world are increasingly worried about oil and gas supplies. As is now well known, some 20% of world’s oil and natural gas passes through the Strait of Hormuz in normal times, and its closure has been devastating for nations that rely on this supply. They have been experiencing shortages, gas lines and skyrocketing prices. But as summer nears—a time of travel plans in some countries (like the US) ...