Persian Gulf conflict sharply disrupts global food, energy supplies, warns UN FAO
The intensifying conflict in the Persian Gulf region has triggered a major disruption to global commodity flows, with UN Food and Agriculture Organization Chief Economist Máximo Torero revealing that tanker traffic through the strategic Strait of Hormuz has fallen by over 90%. This waterway typically channels around 35% of the world's crude oil, approximately 20 million barrels daily, as well as 30% of global fertilizer trade and a fifth of liquefied natural gas shipments. The cutbacks are straining global agricultural production, as fertilizer shortages and energy supply disruptions ripple through farming sectors worldwide. These challenges not only affect farmers but... [Continue Reading]
360LiveNews | 27 Mar 2026 07:24
