Hormuz Crisis Is Rewriting the Global LPG Trade
The Strait of Hormuz, the Middle East’s main choke point, is effectively closed as Iranian attacks on vessels continue, and the ripple effect is tearing through global supply chains. While crude oil and natural gas disruptions have grabbed headlines, liquefied petroleum gas (LPG) also finds itself a
Source: OilPrice.com
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DW NOTE
The Strait of Hormuz has been shut to commercial traffic since February 28 — yet WTI is down 34% from its one-year high and fell 12% this week alone. Apparently the market has decided that rerouting 21% of global petroleum flows is already priced in, even as 2,000 ships sit stranded and LPG buyers scramble for alternative supply chains that didn't exist six months ago.