Strait of Hormuz closure must end within weeks or global economy will suffer, IEA chief warns

Global economic headwinds could emerge if Strait of Hormuz disruptions continue for weeks. Financial markets show anxiety over escalating conflict and its impact on energy shipments. Commercial shipping has sharply declined after vessels came under attack and blockades. The International Energy Agency warns of significant vulnerability for developing nations. The waterway must reopen quickly to avoid a fresh shock to global growth.