The Strait of Hormuz, a crucial waterway for global oil and fertilizer trade, has become a battleground in the ongoing Iran War, significantly impacting shipping and insurance costs. With missile threats and naval deployments, shipping companies are suspending voyages and reassessing operational strategies. Insurance premiums have surged dramatically, leading to higher costs for consumers. The US has pledged naval escorts for vessels, but the situation remains precarious, with potential long-term economic repercussions if hostilities continue. Teljes cikk (Euronews.com)