Dallas Fed: Global GDP will be impacted if the Strait of Hormuz continues to be closed.

The Federal Reserve Bank of Dallas stated that if the Iran war causes the interruption of oil transportation in the Strait of Hormuz to continue until June, the annualized global economic growth rate for the second quarter will decrease by 2.9 percentage points. If the strait reopens after one quarter, oil prices in the third quarter will fall to $68 per barrel, while the GDP growth rate will increase by 2.2 percentage points.