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NEWS: 🇮🇷 Iran officially closes the Strait of Hormuz and warns that any ships passing through this area will be burned.
About 20% of the world's oil supply and 20% of LNG (liquefied natural gas) pass through this strategic route.
Many predictions from experts, organizations, and major banks suggest that if the Strait of Hormuz is closed for 3-4 weeks, Brent crude oil prices could exceed $100 per barrel, leading to a surge in global inflation.