Strait of Hormuz Tension and US-Iran Conflict Bring the Threat of a New Global Oil Crisis to the Agenda

The escalation of tension between the US and Iran threatens global oil markets by raising the possibility of the closure of the Strait of Hormuz.

Commodity analyst Christian Kopfer warns that geopolitical risks have significantly increased and the conflict has returned to its former state, stating that if the strait is completely closed, the world will…