131 resultsfor “importance of Strait of Hormuz for oil supply”
Strait of Hormuz, the narrow waterway off Iran's coast, would lead to higher jet fuel prices and possible shortages in Europe. [ drives the worst energy crunch in modern history, leading governments to scramble to unload their emergency oil stockpiles, developing countries are among the least prepared to mitigate the shock. Although surging
Strait of Hormuz, meanwhile, has triggered the prospect of a mounting jet fuel crisis. The European Union is [considering jet fuel imports](/news/2026/4/21/eu-eyes-options-as-iran-conflict-threatens-jet-fuel-shortages) from the US, alongside new minimum reserve quotas, amid a pending supply
Hormuz must remain open to support the free flow of energy”. Since early March, Iran has restricted shipping through the strait, a narrow waterway linking Gulf oil producers to the open ocean and through which
importance as usually about 20% of the world's oil and liquefied natural gas passes through it. Energy markets have seen wild swings since the US and Israel attacked Iran on 28 February and Tehran
oil and liquefied natural gas (LNG) supplies are shipped in peacetime. Iran’s threats to attack ships in the strait have blockaded it since the US-Israel attacks on Iran began. Then, the US announcement
Strait of Hormuz, a lifeline for India’s gas imports, continues. Meanwhile, the war continues, with the US on Sunday capturing an Iranian cargo vessel, even as Washington says it is willing to hold another
supply needs, and ensure that the Strategic Petroleum Reserve remains strong through the return of premium barrels,” Kyle Haustveit, the head of the department’s Hydrocarbons and Geothermal Energy Office, said in a statement
strait of Hormuz has already sent oil and gas prices soaring, caused a [crisis in the global fertiliser industry](https://www.theguardian.com/world/2026/apr/03/visual-guide-gulf-fertiliser-blockade), and has made shipping and distribution more expensive. The effects have