Tensions in the Middle East Threaten Strait of Hormuz and Global Oil Supply
The Strait of Hormuz remains a critical global oil chokepoint, handling about 20% of the world's petroleum liquids despite regional tensions and some decline in transit volumes due to OPEC+ production cuts and regional shifts. While no blockages have occurred recently, disruptions could significantly impact global oil prices, especially in Asian markets, with alternative routes available but limited in capacity.