Business · 13 April 2026
Analysts warn blockade risks deepening economic crisis across Asia
Trump's naval blockade of the Strait of Hormuz risks deepening an unfolding economic crisis for Asia's energy-dependent economies, including US allies Japan and South Korea as well as China, Bloomberg reported. Around 20% of the world's traded oil normally passes through the strait, and 230 loaded tankers are still trapped inside the Gulf waiting to exit. Analysts said elevated oil prices are now expected to persist through the end of 2026.
Reported by Bloomberg · How we write briefs