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Energy markets are reacting dramatically to escalating tensions in the Middle East, with the Strait of Hormuz effectively shut and global oil flows disrupted. In this episode, we unpack the volatility in crude prices, potential easing of Russian oil sanctions, and the ripple effects across LNG, coal, and power markets. We also examine how Brazil’s sugar mills may pivot toward ethanol, why China’s iron ore imports are climbing, and how shipping disruptions are threatening aluminium supply chains.

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