UAE warns at UN that Iran’s closure of Strait of Hormuz is destabilising global commodity markets, driving up costs and threatening food and energy security.

IEA warns Hormuz Strait crisis could push global oil markets into a ‘red zone’, draining emergency reserves and driving up fuel prices worldwide.

UAE warns at UN that Iran’s closure of Strait of Hormuz is destabilising global commodity markets, driving up costs and threatening food and energy security.