Rio Times · Analysis
Key Facts
—Brent crude Futures are trading near US$79 per barrel after fresh security incidents around the Strait of Hormuz, a chokepoint for a fifth of globally traded oil.
—Asian alarm Japan’s Nikkei slumped over 4% and households brace for punishing energy bills, while Seoul faces a political vacuum alongside historic stock falls driven by war fears.
—Latin duality Brazil, Mexico and Guyana export crude, but the region is a net importer of refined fuels, making it acutely sensitive to global oil price and shipping volatility.
