A Hormuz Shock Could Push Egypt to the Brink

While crude oil and gas markets are trying to find their own footing, other crises are already on the horizon. At present, the global debate surrounding the closure of the Strait of Hormuz is framed through crude oil prices, Asian LNG demand, and Europe’s still fledgling security. Yes, these are very visible shockwaves, but behind these media clouds, something else is hiding in plain sight. One of the most immediate and severe casualties of a prolonged Hormuz closure, or even worse a regional war, will not be a major industrial power but…