Iran's grip on the Strait of Hormuz has jolted the world economy
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Source: AP News
Published: 2026-05-07 23:46 UTC+10:00
Section: General
Factuality Score: 100
Opinion Category: Neutral
Topics: Business, Transport, Middle East, Military & Defence, Iran, Energy, Economy & Finance, World News, Business & Economy, War & Conflict
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Snippet:
Hundreds of merchant ships remain bottled up in the Persian Gulf as the United States and Iran appear to be moving closer to an initial agreement to end the war. The Strait of Hormuz is the narrow mouth of the Persian Gulf through which a fifth of all traded oil and natural gas passes, as Iran has restricted movement through it and the U.S.
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