29 Days
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المصري اليوم
US elections prompt calm to avoid fuel price spike
The article indicates that the congestion of navigational routes in the region, especially threats to close the Bab el-Mandeb Strait, could lead to higher living costs for people worldwide, including increased energy and transportation prices and impacts on commodity prices. Economic expert Dr. Walid Jabbalola believes that the crisis between the U.S. and Iran may somewhat ease due to political calculations, and a complete closure of the Strait of Hormuz is unlikely at present, while the United States is using the threat as leverage. He also warns that any escalation could destabilize markets and lead to higher production costs. However, Egypt considers its economy capable of facing these repercussions with difficulty, emphasizing that consumers will bear part of the costs of these crises.
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