Energy — Strait of Hormuz disruption strains global energy supplies, warns IEA.

Energy · 2026-05-07

The energy world is living in two realities simultaneously. In physical markets, the Strait of Hormuz closure is inflicting cascading damage: global petroleum inventories are depleting at record speed, Asia faces a plastics crisis from naphtha shortages, European airlines face potential jet fuel rationing within weeks, and the IEA now projects tight gas markets through 2030 after 120 bcm of LNG…