The recent attacks by Iran on Israel have not directly impacted oil prices. However, should these hostilities escalate to the extent of potentially closing the Strait of Hormuz, a passage of only 33 km wide at its narrowest point, the repercussions for energy markets would be significant. This scenario is particularly concerning due to the lack of sufficient alternative routes for oil transportation from the region. To further illustrate the gravity of this situation, more than 30% of the global oil seaborne exports and 20% of the global #LNG flows pass through the Strait of Hormuz. Regarding the movement of oil in 2023, ports within the Persian Gulf exported a total of 5.67 billion barrels of crude oil (excluding Iran), equivalent to approximately 15.55 million barrels per day, accounting for 33% of the global crude oil transported by sea. It is clear that, should tensions escalate to the point of blocking the Strait, the impact on energy prices would be seismic. #marketinsights #dailyreport #maritime #shippingindustry #energymarket
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Independent Mgt. Consultant | PwC Experience | AI | Change Management | Strategic Communications | Integrated Marcom | Former Marcom EVP, Partner & SVP | Client Exp.: Bayer, Citi, HP, Lowe's, Meta
The Strait of Hormuz is widely recognized as a vital oil transit chokepoint. Situated between Iran and Oman, the waterway is a narrow but strategically important channel that links crude producers in the Middle East with key markets across the world. For many analysts, an event where there is a blockade to flows via the Strait of Hormuz is seen as a worst-case scenario — one that could prompt oil prices to climb far above $100 a barrel. #Iran #Israel #MiddleEast
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The Persian Gulf and Strait of Hormuz transit 17% of global oil supply, making the region critical for energy markets. Iran’s oil exports, approximately 1.5 million barrels per day, remain vulnerable to potential disruptions. While OPEC+ has managed supply in recent years, free passage through the Strait is essential. Westwood’s Energy & Infrastructure team will continue to provide updates on how tensions in the Middle East may impact global oil markets. #MiddleEast #StraitofHormuz #OilPrices #EnergyInvesting
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The Persian Gulf and Strait of Hormuz transit 17% of global oil supply, making the region critical for energy markets. Iran’s oil exports, approximately 1.5 million barrels per day, remain vulnerable to potential disruptions. While OPEC+ has managed supply in recent years, free passage through the Strait is essential. Westwood’s Energy & Infrastructure team will continue to provide updates on how tensions in the Middle East may impact global oil markets. #MiddleEast #StraitofHormuz #OilPrices #EnergyInvesting
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The Persian Gulf and Strait of Hormuz transit 17% of global oil supply, making the region critical for energy markets. Iran’s oil exports, approximately 1.5 million barrels per day, remain vulnerable to potential disruptions. While OPEC+ has managed supply in recent years, free passage through the Strait is essential. Westwood’s Energy & Infrastructure team will continue to provide updates on how tensions in the Middle East may impact global oil markets. #MiddleEast #StraitofHormuz #OilPrices #EnergyInvesting
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The Persian Gulf and Strait of Hormuz transit 17% of global oil supply, making the region critical for energy markets. Iran’s oil exports, approximately 1.5 million barrels per day, remain vulnerable to potential disruptions. While OPEC+ has managed supply in recent years, free passage through the Strait is essential. Westwood’s Energy & Infrastructure team will continue to provide updates on how tensions in the Middle East may impact global oil markets. #MiddleEast #StraitofHormuz #OilPrices #EnergyInvesting
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The Strait of Hormuz is widely recognized as a vital oil transit chokepoint. ➡️ Situated between Iran and Oman, the waterway is a narrow but strategically important channel that links crude producers in the Middle East with key markets across the world. ➡️ For many analysts, an event where there is a blockade to flows via the Strait of Hormuz is seen as a worst-case scenario — one that could prompt oil prices to climb far above $100 a barrel. ➡️ “The worst case could well be if Israel strikes Iran [and] Iran takes actions to slow down or potentially try to block the Strait of Hormuz,” Alan Gelder, energy analyst at Wood Mackenzie, told CNBC’s “Squawk Box Europe” on Monday. Read more: https://cnb.cx/4dBFa2O
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The Persian Gulf and Strait of Hormuz transit 17% of global oil supply, making the region critical for energy markets. Iran’s oil exports, approximately 1.5 million barrels per day, remain vulnerable to potential disruptions. While OPEC+ has managed supply in recent years, free passage through the Strait is essential. Westwood’s Energy & Infrastructure team will continue to provide updates on how tensions in the Middle East may impact global oil markets. #MiddleEast #StraitofHormuz #OilPrices #EnergyInvesting
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The Persian Gulf and Strait of Hormuz transit 17% of global oil supply, making the region critical for energy markets. Iran’s oil exports, approximately 1.5 million barrels per day, remain vulnerable to potential disruptions. While OPEC+ has managed supply in recent years, free passage through the Strait is essential. Westwood’s Energy & Infrastructure team will continue to provide updates on how tensions in the Middle East may impact global oil markets. #MiddleEast #StraitofHormuz #OilPrices #EnergyInvesting
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The Persian Gulf and Strait of Hormuz transit 17% of global oil supply, making the region critical for energy markets. Iran’s oil exports, approximately 1.5 million barrels per day, remain vulnerable to potential disruptions. While OPEC+ has managed supply in recent years, free passage through the Strait is essential. Westwood’s Energy & Infrastructure team will continue to provide updates on how tensions in the Middle East may impact global oil markets. #MiddleEast #StraitofHormuz #OilPrices #EnergyInvesting
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Saudi Arabia exported 7.0 million b/d of crude oil in 2023. Crude oil and petroleum product exports from Saudi Arabia represented 34% and 26%, respectively, of OPEC exports in 2023. Saudi Arabia shipped 42% (6.2 million b/d) of the crude oil that transited the Strait of Hormuz in 2023. The Strait of Hormuz is the seaborne entrance to the Persian Gulf and one of the world’s most important oil transit chokepoints. Most exports of petroleum and natural gas from the Persian Gulf to Europe and North America pass through several chokepoints, including the Strait of Hormuz, the Suez Canal or the SUMED pipeline, and the Bab el-Mandeb. Saudi Arabia can circumvent the Strait of Hormuz and Bab El-Mandeb by transporting crude oil to the Red Sea via the country’s 5 million b/d East-West crude oil pipeline, which is temporarily expandable to 7 million b/d when needed. (Country Analysis Brief: Saudi Arabia – EIA (U.S. Energy Information Administration) – October 4th 2024) #SaudiArabia #SaudiArabiacrudeoilexports #OPEC #CrudeOilMarket #StraitofHormuz #SaudiArabiaseabornecrudeoilexports
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Founder at Carpe Diem International
7moConcise! So well written. (Was it all AI?) ….sorry not to have seen you whilst in Athens.