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Strait of Hormuz Blockade Impacts
The eighth week of the Iran war has seen the Strait of Hormuz remain a critical chokepoint, with only a trickle of vessels successfully navigating the route.
Major oil traders warn that a 'billion-barrel hole' has been created in global supplies, leading to surging costs for everything from jet fuel to condoms.
China's shipyards have seen a wave of new orders for tankers as companies seek alternative transport methods.
The disruption is also threatening global food security as fertilizer production is hit by rising gas prices.
Iran
Country in Western Asia
Country in Western Asia
United States
Country located primarily in North America
Country located primarily in North America
Vitol
Dutch petroleum company
Dutch petroleum company
Trafigura
Multinational commodities company domiciled in Singapore
Multinational commodities company domiciled in Singapore