Hormuz threats lose their sting
As Gulf states progress bypass projects, time runs down on Iran’s sabre-rattling
The Strait of Hormuz is the world’s key oil chokepoint, with more than 20pc of global crude demand passing through the waterway each day. Repeated threats by Iran over the past decade to close its shipping lanes have thus proven headline-grabbing. Should it risk doing so, the likely result would be a material spike in oil prices as Mid-East Gulf supply was constrained. The logical next step would be swift intervention, almost certainly of a military nature, to remove any blockage if possible. While the threat has somewhat subsided over the last few years, last month Iran’s deputy commander of political affairs, General Yadollah Javani, warned that, if there was a need to close the strait, Ir
Also in this section
1 May 2024
Energean CEO Mathios Rigas looks to results of critical Anchois appraisal well
30 April 2024
While its regional neighbours reap the rewards of oil and gas success, Iraq’s hydrocarbons sector is lagging behind
29 April 2024
Although recent, firmer gas prices have blunted some price-sensitive demand, the overall growth outlook remains robust
26 April 2024
While the US has been breaking records for its premium grade crude, there are doubts over whether you can have too much of a good thing