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War In The Gulf: How is the NZ Motor Vehicle Market Affected?

The escalation of conflict involving Iran, Israel and the United States has triggered one of the 
most significant global energy disruptions in decades, primarily through the effective closure of 
the Strait of Hormuz. Around 20% of global oil and LNG trade normally goes through the narrow 
strait, and its disruption has driven sharp increases in crude prices, refined fuel prices, and 
shipping costs globally.