Professor warns: This could happen to the economy if the Strait of Hormuz remains closed

The closure of the Strait of Hormuz by Iran is causing a surge in global oil prices, posing a potential threat to the global economy. While a potential agreement between the US and Iran has led to a drop in oil prices, experts warn that the situation could worsen if market confidence is not secured. The long-term effects of the war will linger, and the credibility of the agreement is crucial.