Personal Finance
GCC Households Watched Food Prices Jump 40% to 120% in Three Months. The Deal Changes That. But Not Immediately.
When Iran closed the Strait of Hormuz on February 28, 2026, it did not just disrupt oil markets. It directly threatened the food supply of the countries that depend on the Strait for their imports. Gulf Cooperation Council states rely on the Strait for over 80% of their caloric intake.