The crisis in the Strait of Hormuz caused immediate shocks to the world oil market, but analysts are also afraid that rising food prices and fertilizer shortages could increase the risk of famine in struggling nations.
Vespucci Maritime CEO Lars Jensen told Fox News Digital on Thursday that the “worst-case” scenario would resemble “the eight-year closure of the Suez Canal from 1967 to 1975.”
“Best case, there is an agreement between the U.S. and Iran within the next few weeks, and the Strait reopens — and it has to be a deal where there is trust that Iran is sufficiently satisfied with the deal such that they do not suddenly close the strait…
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