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Gokcay BalciThe Conversation |
The current energy market disruption has exposed structural vulnerabilities in Asia’s energy systems.
The vital strait of Hormuz has been effectively closed to shipping since the start of the conflict in Iran.
Gulf states depend on food imported via the strait – and shipping surcharges could raise the cost of consumer goods around the world.
Houthis pledge to halt attacks on Red Sea vessels, but shipping companies remain unconvinced.