The United Nations Conference on Trade and Development (UNCTAD) stated on Tuesday that ongoing disruptions in the Strait of Hormuz could lead to small and medium-sized enterprises (SMEs) being squeezed out of global supply chains, exacerbating economic concentration and weakening the resilience of international trade. The agency noted that rising energy costs, freight rates, insurance premiums, and financing restrictions disproportionately burden SMEs compared to larger enterprises, making them more vulnerable to shocks. Given that SMEs account for approximately 90% of global businesses, contribute 70% of employment, and 50% of global GDP, disruptions in the Strait of Hormuz pose ripple effects far beyond shipping lanes. Brent crude oil prices rose over 2% on Tuesday to above $99 per barrel, impacted by the conflict in the Middle East.