The World Economic Forum (WEF) warned that the crisis in the Strait of Hormuz would not only affect the oil market, but also seriously disrupt nine other commodities.
These commodities include methanol, aluminum, sulfur, graphite, chemical fertilizers, urea and ammonia, and other vital minerals and industrial materials that impact global supply chains and the transition to green energy.
The impact of these disruptions will be felt quickly across global supply chains, from chemical fertilizers needed for future harvests to minerals essential for high-tech industries, according to the report.
