Middle East Conflict Disrupts Strait of Hormuz, Straining Global Economy
Reliability
Based on 15 sources
Publications (14)
Sources (15)Fact-Checking
52 claimsFertilizer prices have soared since the U.S. and Israel attacked Iran on Feb. 28, leading to shipping slowdowns in the Strait of Hormuz.
Open Questions
5 questionsCrude oil prices increased by nearly 40% between February and March.
According to www.aa.com.trOil prices have risen by around 45% since late February.
According to news.un.orgContext: This discrepancy affects understanding of the severity and timing of oil price inflation, which impacts economic forecasts and policy responses.
Nitrogen-based fertilizer prices increased by nearly 50% in March.
According to www.aa.com.trFertilizer prices have risen by 35% since late February.
According to news.un.orgContext: The difference in reported price increases influences assessments of agricultural input costs and potential food price inflation.
About 20% of fertilizer used by U.S. farmers is produced by a Qatari facility affected by the Strait closure.
According to time.comAbout 15% of fertilizer imports to the U.S. are from the Middle East, with half the global supply of urea from the region.
According to www.pbs.orgContext: This disagreement affects estimates of U.S. vulnerability to fertilizer supply disruptions and planning for agricultural support.