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.
The Brazilian real hit 5.19 per US dollar this week, marking its weakest level in two months as market dynamics shifted unexpectedly. The currency weakness reflects changing monetary policy expectations as broad dollar strength prevails amid heightened tensions in the Middle East, with concerns intensifying after a US helicopter