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The effective closure from the Iran war of the Strait of Hormuz -- the critical chokepoint for roughly 20% of the world's oil and liquefied natural gas -- is in its fifth week with no clear signs of resolving. For Asia, which buys more than 80% of the crude and LNG that flows through the narrow waterway, the consequences have been swift: severe fuel shortages, export bans, and government budgets stretched to the breaking point. The crisis is forcing Asia to look both backward and forward simult ...Read More >
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