The war with Iran is driving up more than gasoline prices. It is beginning to hit semiconductors, medical imaging, backyard gardens and even children's party balloons. While much of the world is focused on how Iran's essential closure of the Strait of Hormuz is damaging global energy markets, other key industries risk getting hit by similar price inflation. That's because Hormuz is also a major shipping route for helium and fertilizer, which both affect a wide sector of the economy and are now experiencing price spikes as ships bottleneck on both sides of the strait. About a third of both the global helium and fertilizer supply passes through Hormuz. Half of the global supply of urea " a nitrogen-based fertilizer" and almost a third of the ammonia supply run through the straits, according to the American Farm Bureau Federation.
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