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The eurozone economy grew more rapidly than previously estimated in the three months through June, even as energy prices jumped on the U.S.-Iran war. Resilience may be challenged if conflict blocks the Strait of Hormuz.
WSJ reports the U.S. naval blockade has prevented Iran from shipping oil from the Persian Gulf, with the trend now moving against Tehran in the “battle of the blockades.”
Iran blocks passage of six tankers in Hormuz Strait Friday - IRIB
Iran's closure of Strait of Hormuz affects global oil supply, impacting shipping and trade. This move may lead to increased oil prices.