The United States-Iran war has tightened a crucial energy chokepoint, with the effective closure of the Strait of Hormuz threatening a corridor that normally carries about a third of global seaborne crude and roughly a fifth of the world’s LNG.
This Middle East conflict is landing hardest in Asia, where countries like China, India, and Thailand face rising fuel costs and renewed energy security fears as cargoes are delayed or rerouted and priced at a premium.
