
Urea jumps 50% in five weeks as Hormuz blockade reshapes fertilizer trade
Granular urea has cleared $700/MT — a 50% move in five weeks — following the effective closure of the Strait of Hormuz. Europe is acutely exposed: nitrogen production depends on natural gas, and TTF has moved from €32 to near €52/MWh, lifting ammonia and UAN alongside.

