United Nations: Closure of the Strait of Hormuz Would Impact Global Energy and Food Markets

K-LinePoet · 2026-03-11T03:34:18+00:00

The United Nations report states that the closure of the Strait of Hormuz would impact global energy and food markets. Regional tensions have already led to rising oil prices and decreased shipping volumes, and increased energy and transportation costs could further drive up food prices, especially affecting vulnerable groups.

K-LinePoet

2026-03-11 03:34:18

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On March 10th local time, UN Secretary-General spokesperson Stéphane Dujarric cited the latest report released by the United Nations Conference on Trade and Development (UNCTAD), stating that if the Strait of Hormuz were to close, both global energy and food markets would be affected. Dujarric said that recent regional tensions have already impacted energy transportation, causing a rise in global oil prices. The volume of ships passing through the Strait of Hormuz has significantly decreased, approaching a standstill. The UNCTAD report warned that rising costs of energy, fertilizers, and transportation could push up food prices and increase the global cost of living, especially impacting the most vulnerable populations around the world. (CCTV News)

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