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Conflicting remarks from US President Trump on the Iran conflict on November 14 added uncertainty over the security of shipping through the Strait of Hormuz. The strait handled about 20 million barrels of oil and petroleum products per day in 2025.
Urea delivered to Brazil was priced near $455 per tonne on November 13.
Disruption in the strait raises fuel, insurance and freight costs and threatens natural gas feedstock for nitrogen fertilizer, which can push urea prices higher for importers such as Brazil.
naturenews.africaOnline EditorNov 15, 2026After 205 past bullish geopolitics events, Urea moved a median +0.4% over 5 sessions (53% higher; middle half -2.1% to +3.0%), and -0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
