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flag Strait of Hormuz blockade causes global oil crisis and record price surges.

flag Global energy markets face an unprecedented crisis as the International Energy Agency (IEA) reports the blockade of the Strait of Hormuz is the worst supply disruption in history. flag The conflict has halted significant oil and gas flows, causing record price surges. flag In response, major nations have begun releasing strategic oil reserves to stabilize prices, though developing countries remain at high risk from soaring inflation and food costs.

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