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Global Business News

The Economic Times

Global Business / The Economic Times

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Hormuz, Red Sea spark a 1,000% war-risk premium shock

War-risk insurance premiums have surged by as much as 1,000% as tensions across the Strait of Hormuz and the Red Sea disrupt shipping. Fresh Houthi attacks and the US-Iran conflict are raising voyage costs, increasing crude import expenses for India and adding fresh uncertainty to global oil markets.

23 Jul 2026 12:26 pm