11 Days
Source:
الاقتصادية
Hormuz risks threaten commodity stocks
Commodity markets are experiencing significant pressure due to the increasing likelihood of closing the Strait of Hormuz, a vital passage for transporting about one-fifth of global oil and natural gas trade. HSBC Bank warned that continued disruption of shipping through the strait could lead to stockpiling and cause critical turning points in some commodity markets, with volatility and prices likely to rise in the coming period. Additionally, metal prices have seen strong gains, with aluminum reaching its highest level in four years, and copper prices climbing approximately 13% since the start of the year, driven by factors such as robust demand and damage to aluminum production capacities in the Middle East.
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