New Delhi, March 17 -- The closure of the Strait of Hormuz could potentially increase global inflation by about 1-2 percentage points and reduce global GDP by roughly 0.5-1.0 percentage points, believes wealth advisory firm, ASK Private Wealth in its Newsletter.

In the equity markets, this scenario is not entirely negative, highlighted ASK Private Wealth. Non-Gulf oil producers (like ExxonMobil, Chevron, ConocoPhillips, and EOG Resources), crude and LNG tanker companies (such as Frontline, DHT Holdings, Flex LNG, and Golar LNG), US LNG exporters, and defence contractors (including Raytheon Technologies and Lockheed Martin) are expected to benefit, according to ASK Private Wealth.

The wealth advisory firm suggests that investors should b...