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Strait of Hormuz Crisis Threatens Global Food and Energy Supplies

Financial Times Companies •
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The closure of the Strait of Hormuz, a critical global oil chokepoint, is triggering severe disruptions to international food aid and energy markets. The World Food Programme warns that millions more could face acute hunger as shipments of wheat and other essentials become stranded. This crisis coincides with a pivotal meeting of major energy executives in Houston, Texas, where they confront the war in Iran's escalating impact on energy security. C$90bn windfall profits are forecast for Canadian oil producers due to soaring prices, while China aggressively markets itself as a 'harbor of stability' to global CEOs amid the turmoil. Cuba suffers its second nationwide power outage in a week, heightening regional instability.