UK at Risk of Recession if Strait of Hormuz Remains Closed into 2027 The ongoing Middle East conflict has sent shockwaves through global markets for months.
A recent economic outlook from EY warns that the UK economy is at risk of recession if the crucial Strait of Hormuz remains closed into 2027.
The closure of the Strait has already had a ripple effect on oil prices, which have surged in recent months due to ongoing disruptions to global energy markets.