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Ripples from Iran: Soaring prices, choked shipping and delayed rate cuts
The economic fallout from the war on Iran is potentially huge and Asia could find itself badly hit.
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Around 20 million barrels of oil pass through the Strait of Hormuz each day and any prolonged closure could have devastating consequences for the global economy.
PHOTO: REUTERS
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War has a habit of exposing vulnerabilities that are often ignored in peacetime. The conflict with Iran has done exactly that – illuminating just how much of the world’s energy supply balances on the knife-edge of a single waterway.
