
The interruption of oil and gas supplied through the Strait of Hormuz due to the US-Israel war with Iran has dramatically pushed up global energy prices.
Petrol has gone up already and UK domestic heating bills are almost certain to follow.
But it's not just fuel that's been impacted by the conflict. A host of other vitally important chemicals, gases and other products normally enter international supply chains via the Hormuz Strait.
BBC Verify has found that the price of a host of goods - ranging from food, to smartphones, to medicines - could be affected, as the number of ships passing through the Hormuz Strait has dropped from well over 100 a day before the war to just a handful.
Here is what could be impacted.
Fertilisers (Food)
Petrochemicals are derived from oil and gas and they are produced in great quantities for export by countries in the Gulf region.
And one of the most important is fertiliser, vital for global agricultural production.
According to the United Nations, around a third of the world's fertilisers - such as urea, potash, ammonia and phosphates - normally pass through the Hormuz Strait.
Data from the World Trade Organization shows that, since the conflict began, outbound shipments of fertiliser-related products through the waterway have collapsed.
Analysts have warned that a shortage of these ferilisers is likely to be particularly damaging to agricultural production now because March and April are the northern hemisphere's planting season and less fertiliser use now by farmers will impact yields for later in the year.
"A relatively brief closure could disrupt an entire growing season, with food security consequences that persist long after the strait reopens," according to researchers at the Kiel Institute.
-
Nearly 100 ships pass the Hormuz Strait - who is getting through?
-
How risky would it be to escort ships through the Strait of Hormuz?
-
In maps: Attacks across Iran and the Middle East enter third week
The Institute's work suggests a full closure of the Strait of Hormuz could push up global wheat prices by 4.2% and fruit and vegetable prices by 5.2%.
And it estimates that the most badly affected countries in terms of the overall increase in food prices would be Zambia (31%), Sri Lanka (15%), Taiwan (12%) and Pakistan (11%).
Russia normally supplies around a fifth of global fertiliser exports and analysts say it could potentially increase production to fill the gap.
Vladimir Putin's special envoy, Kirill Dmitriev, has said that Russia, a major producer of commodities like fertiliser, is "well positioned".
LATEST POSTS
- 1
Tata Motors, BMW among automakers set to raise prices in India - 2
Journalists killed by Israeli strike in southern Lebanon - 3
Fundamental Monetary Guidance for Going into Business - 4
Carnival fever hits Lagos as locals celebrate Afro-Brazilian heritage - 5
We tasted one of the 10,000 Hershey's Dubai chocolate bars being resold on eBay. Is it worth the hype?
SpaceX launches Starlink satellites on its 150th Falcon 9 mission of the year
7 Extraordinary Efficiency Applications for Experts
Find the Specialty of Calligraphy: Dominating the Exquisite Art of Penmanship
What's going around right now? COVID, flu, stomach bug on the rise
Are protests pushing Iran's Islamic regime toward a tipping point?
Knesset FADC extends emergency draft for 280,000 IDF reservists until January 1
Baikonur launch pad damaged after Russian Soyuz launch to International Space Station
Finding the Universe of Craftsmanship: Individual Encounters in Imagination
Electric discovery on Mars! Scientists find tiny lightning bolts coming from Red Planet dust clouds












