Food and Transport Costs through Strait of Hormuz Remain High, Burdening Vulnerable Economies

Source Summary

Prior to the latest round of hostilities between the United States and Iran, freight traffic had been increasing in the Strait of Hormuz, and negotiations were underway for a new agreement to fully restore trade through this channel. According to UN Trade and Development (UNCTAD), energy markets were likely to bounce back to normal pre-conflict [...]