Energy — Middle East Conflict Triggers Global Energy Supply Crisis as Strait of Hormuz Closes, Pushing Markets Into Unprecedented Territory

Energy · 2026-03-06

The effective closure of the Strait of Hormuz has created an immediate and severe disruption to global energy markets, with impacts radiating far beyond oil prices. The blocking of this critical chokepoint has paralyzed 15 million barrels per day of oil supply and significant LNG flows, triggering a cascade of market responses: Asian refiners are cutting processing rates, LNG shipping rates have…