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Story summary
- Aluminum prices in London rose 4% amid supply-chain fears tied to Iran's claims over the Strait of Hormuz.
- Middle Eastern aluminum smelters, which account for 9% of production, face operational challenges and have invoked force majeure.
- Shipping disruptions halt traffic through the Strait of Hormuz, pushing oil prices toward $84 per barrel.
- Analysts warn that further price spikes could follow if the situation escalates, affecting economies reliant on Gulf oil.
