Strait of Hormuz and Global Energy
The CEO of HSBC expects the Strait of Hormuz to become dispensable within five years, due to investments in developing alternative and flexible logistics routes. This comes amid a decline in oil and gas transit through the strait, which handles about 20% of the world's oil and gas, as a result of escalating tensions in Iran and ongoing war since the beginning of the year, prompting producers to seek alternatives to ensure continuous supplies.
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