Hormuz Shutdown Sends Global Shockwaves as UN Warns of Inflation Surge and Slowing Growth

The Strait of Hormuz—one of the world’s most critical energy chokepoints—remains effectively closed, sending shockwaves through global trade, energy markets, and financial systems, according to a new report from the United Nations Conference on Trade and Development. 

Under normal conditions, the narrow waterway carries a significant share of global oil and gas supplies, forming the backbone of the global economy. But with transits collapsing by roughly 95%—from an average of 129 vessels per day in February to just six in March—the disruption is already rippling far beyond the Gulf. 

The immediate impact is being felt in energy markets. Oil prices have