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What happens if the Strait of Hormuz closes? 20% of the world's oil supply stops. Remember how oil skyrocketed during the tension in 2008. For the world, this is not just a conflict. The first steps of global stagflation are being taken. Fuel prices skyrocket, food costs increase in a cascade, and the economies of developing countries slow down. If tensions with Iran grow, if the Strait of Hormuz is closed, oil will stop and prices will skyrocket.

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