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
23 April 2024
Cheaper Russian barrels and lower overall crude prices have helped cut key oil consumer’s import bills in election year
22 April 2024
Pursuing three different goals as part of the same package may mean achieving none of them
22 April 2024
Beijing’s renewed targeting of NOC management could threaten investment
19 April 2024
Cairo’s currency problems have hindered investment, but Pharos sees considerable potential as Egypt emerges from crisis