WSJ reported a shortage of sulfuric acid due to the conflict in the Middle East

The escalation of the conflict in the Middle East has provoked serious disruptions to global supplies of sulfuric acid and a sharp rise in the price of these raw materials. This was reported on Saturday, May 9, by The Wall Street Journal (WSJ) newspaper, citing sources.

"The Gulf War and new Chinese export restrictions have led to a sharp rise in the price of sulfuric acid and raised concerns about the availability of the chemical on which the world depends," the publication says.

It clarifies that the chemical is a critically important component for the production of paper, metal and computer chips. According to Freda Gordon, director of Acuity Commodities, a significant part of the world's sulfur comes from oil refineries and gas processing plants in the Persian Gulf.

As noted in the publication, the closure of the Strait of Hormuz led to a reduction in the availability of the product on the world market and an increase in prices. An additional factor in the shortage was the export restrictions imposed by China.

Defect of freedom: US operation in Hormuz will increase tensions with Iran

Tehran has threatened attacks on American forces in the water area.

Bloomberg reported on May 9 that global oil reserves are rapidly declining amid the conflict in the Middle East and restrictions in the Strait of Hormuz, through which a significant part of oil supplies from the Persian Gulf were previously carried out. According to the agency, the rapid decline in reserves indicates that the oil market may remain vulnerable to new disruptions even after the conflict ends.