Data & financial journalist covering global economics and policy
Oil and gas might not be the only commodities vulnerable to the disruptions in the Strait of Hormuz. Fertilizers are at particular risk, as their supplies get choked at the strait, a critical shipping corridor for a third of the world’s fertilizer shipments.
Oil prices surged after U.S. and Israeli strikes on Iran raised fears of Strait of Hormuz disruption, a chokepoint that carries about 20% of global crude supply.
Over a quarter of global seaborne oil flows through the Strait of Hormuz—making Asia’s top economies especially vulnerable to any disruption.
Israel’s strikes on Iran’s strategic sites have sent Brent crude and gold prices sharply higher, while potential threats to Kharg Island and the Strait of Hormuz chokepoints could force shipping reroutes, risking wider global supply-chain disruptions.