Introduction This is a follow-up to my previous piece on the economic effects of the Persian Gulf sulfur and urea cutoff. In that piece I argued that the public conversation about the Strait of Hormuz has fixated on crude oil and ignored the other commodities the Gulf supplies: LNG, urea, sulfur and helium. Having covered...

On the morning of September 30, flydubai flight FZ1073, a Boeing 737 MAX 8, left Dubai for Tel Aviv with 174 passengers aboard, 27 of them children. About two and a half hours into the flight, the first officer attacked the captain, Smit Machchhar, an Indian national. The aircraft dropped roughly 17,000 feet in one...

For seven months, the coverage of the war with Iran has been about oil: tanker counts, the price of Brent, how much is left in the Strategic Petroleum Reserve. Hardly anyone outside the fertilizer trade has noticed that the Strait of Hormuz also carries close to half of the world’s seaborne sulfur. Sulfur is not...

The global economic damage caused by the closure of the Strait of Hormuz is generally not understood by most policymakers. Public and policy discussion of the Strait of Hormuz closure has fixated on crude oil: tanker counts, Brent prices, strategic petroleum reserves. That focus is understandable, but it misses much of the damage. The Persian...