Shipping disruption amid regional conflict may strain vital sectors
The blockage of the Strait of Hormuz in response to escalating military conflict following US and Israeli air strikes on Iran, is expected to weaken credit quality across Middle East's vital sectors.
Several areas of activities, including trade and supply routes, energy and capital flow and tourism are expected to come under strain, according to a study published by S&P Global Ratings.
Oil prices have surged in the wake of the crisis, with Brent crude oil prices having climbed 11% over the past five days, and nearly 30% since the beginning of the year.
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