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The Strait of Hormuz, a critical oil choke point, is virtually shut down due to a U.S. blockade on Iran-linked vessels and Iranian retaliation. This has led to a significant drop in daily ship transits, causing panic among shipping bosses and trapping hundreds of seafarers. The economic impact is severe, with crude output from Gulf nations down by 57%, causing shortages, price hikes, and demand drops in gas markets. Fertilizer shortages could also affect food prices globally. Both sides are entrenched, with no fresh talks on the horizon, and recovery could take months even if the strait reopens. The worlds energy landscape has been forever changed.

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