Strait of Hormuz Closure: Shocks to Global Oil & Gas Markets #globaleconomy #oilprices

The war in the Middle East has virtually closed shipping via the Strait of Hormuz and the global oil and gas markets are feeling the effects.

Brent crude went from about $60 per barrel at the beginning of 2026 to between $90 to $100 per barrel, creating significant shocks in terms of reducing growth and also pushing up inflation. That's a double hit for many countries, particularly in the Asia Pacific, where they're quite dependent on imports from the Middle East.

Will this disruption last for weeks or months?

The G7 is considering releasing their strategic oil reserves to help reduce upward pressures on oil prices but no decision has been made yet.

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Видео Strait of Hormuz Closure: Shocks to Global Oil & Gas Markets #globaleconomy #oilprices канала Asia-Pacific Economics