The closure of the Strait of Hormuz until August could cause an economic downturn comparable to the 2008 crisis.
According to Oxu.Az, Bloomberg reported this.
If restrictions remain, global oil demand could drop by millions of barrels per day, and Brent crude could rise to $130 per barrel this summer.
If the strait stays closed longer, the oil shortage on world markets will worsen.
The UN previously warned that shipping restrictions in the Strait of Hormuz could lead to a global food crisis.
