Gas Prices Rise Sharply, El-Erian Warns of Recession Risk if Strait of Hormuz Remains Closed
Mohamed El-Erian warns that the global economy has only four to eight weeks to avoid a full-blown recession as gas prices surge from $2.98 to $4.39 due to disruptions at the Strait of Hormuz, which handles about 25% of seaborne oil trade.
Topics: Mohamed El-Erian oil prices recession warning Strait of Hormuz blockage