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Story summary
- Anthony Scaramucci described Iran's closure of the Strait of Hormuz as 'economic warfare' intended to inflict global pain.
- He warned the closure threatens 20-30% of global oil supply, raising energy prices and recession risks for Asia and Europe.
- The U.S. Energy Information Administration said the Strait carried about 20 million barrels daily in 2024, and flows have fallen under 10% of pre-crisis levels, with prices rising.
