Hormuz Blockade Economic Impact

Malaysia's Sultan Nazrin Shah warned that Asean nations are facing an 'economic crisis' as the vital shipping lane remains blocked.

The disruption has pushed global oil prices back toward $100 a barrel, impacting everything from airfares to cooking gas in Brazil.

Somalia and Malawi are reporting critical shortages of food and fuel as transport costs skyrocket.

Analysts warn that a prolonged closure could trigger a global recession, particularly in the Global South.