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HSBC Holdings Chair Brendan Nelson emphasized the urgent need for a Middle East peace deal.
HSBC Chair Brendan Nelson linked Middle East peace directly to restoring global energy flows.
KEY POINTS
- The Iran conflict has driven oil prices close to $100 per barrel, raising inflation fears.
- The U.S. Navy has blockaded the Strait of Hormuz after failed peace negotiations.
- Analysts predict a significant reduction in crude supply due to the blockade and ongoing tensions.
COMPANIES
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