FT News Briefing Strait of Hormuz crisis poses fresh threat to global food, energy
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Mar 23, 2026 
Jamie Smith, the FT’s US energy editor, tracks how the Iran war could scramble oil and gas markets, boost Canada’s role, and help China cast itself as a steady partner. Joe Daniels, an FT journalist on Latin America, unpacks Cuba’s worsening blackouts, fragile fuel supplies, and rising fears of a sharper US-Cuba clash. These stories follow the widening threat to food aid and global hunger.
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Hormuz Closure Is Becoming A Food Crisis
- A prolonged Strait of Hormuz closure now threatens food security as much as oil markets.
- The WFP said 70,000 tons of aid are stranded, including wheat for Yemen, and warned 45 million more people could face acute hunger.
Houston Energy Talks Turn Into Crisis Diplomacy
- Houston's energy summit will double as a crisis-management forum over Iran's threats to regional oil and gas infrastructure.
- Jamie Smith expects Gulf producers to push US de-escalation while US officials press domestic drillers and Asian buyers seek spare American supply.
China's Energy Hedge Looks Stronger In Crisis
- The Iran war exposes two energy strategies: US fossil-fuel dominance versus China's hedged system of stockpiles and electrification.
- Jamie Smith said China stored more than 1bn barrels, halted fuel exports, and pushed electrification, making it less exposed than import dependence alone suggests.