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More than a hundred days have passed since the closure of the Strait of Hormuz and its effects, which have led to widespread disruptions in global energy markets, a rise in oil and gas prices, and impacts on both Gulf and importing economies. The price of Brent crude oil increased from mid-seventies dollars to around $138 per barrel before decreasing to less than $94, with market expectations signaling a future decline in prices. Industrial and agricultural sectors were also affected, inflationary pressures and economic growth were intensified, and the tension prompted changes in global trade routes and bolstered the strategic reserves of importing countries.
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