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Navigating the World’s Most Critical Oil Chokepoints

The total volume of oil passing through the Strait of Hormuz stands around a staggering $600 billion. While a blockade of the strait is considered a distant possibility, its closure could ripple across global supply chain networks. In particular, Japan, China, and India would be impacted the most. Furthermore, a shock to oil prices would likely affecting production costs, in turn raising the price of consumer goods. This graphic, via Visual Capitalist’s Dorothy Neufeld, shows the most vital oil transit chokepoints, based on data from MUFG. The…