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Sudanese Energy Minister Al-Mutasim Ibrahim stated that opening the Strait of Hormuz would help reduce external factors that drive up fuel prices, thereby enhancing the stability of fuel supplies within the country. This move would also lead to an improvement in the Sudanese pound’s exchange rate and increase foreign reserves. Although Sudan faces an internal fuel crisis and a decline in its currency’s value, opening the strait would facilitate better fuel flow and mitigate the impact of rising global oil prices, as Brent crude has fallen below $80 per barrel. The strait remains one of the most important global oil passages, through which about 20% of the world’s oil consumption passes, meaning any tension there can influence global energy prices.
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