War and Drought Are Choking the World's Most Vital Trade Routes

Source Summary

Since early March, Iran has closed the Strait of Hormuz in response to attacks by the United States and Israel. The waterway, through which 20 percent of the world's oil transits, remains closed to most ships. The strait also handles significant global supplies of key materials including ammonia (23 percent), urea (34 percent), phosphate (20 percent), and helium (30 percent).