Strait of Hormuz closure risks greatest global energy supply shock in decades, Wood Mackenzie warns

AI Summary

The potential closure of the Strait of Hormuz is identified as a major threat to global energy markets, risking significant supply disruptions. The report from Wood Mackenzie highlights the importance of the Gulf region in maintaining energy flows.

A prolonged closure of the Strait of Hormuz poses the single greatest threat to global energy markets in decades, according to a new Horizons report from Wood Mackenzie, Strait Talking: Iran War Scenarios and the Future of Energy. More than 11 million barrels per day (b/d) of Gulf crude and condensate production is currently curtailed. ...