UNCTAD warns of rising costs from Strait of Hormuz disruptions
pre-market1 source ↓written by the desknot a recommendation
- in daily ship
- 97% drop
- of its crude
- 80%
The United Nations Conference on Trade and Development (UNCTAD) reported that geopolitical tensions in the Strait of Hormuz have led to a 97% drop in daily ship transits, severely disrupting global maritime trade. This chokepoint handles 25% of global seaborne oil trade, raising energy and freight costs significantly. ⚡
Energy supply risks are particularly acute for Asia, which relies on this route for over 80% of its crude oil and LNG flows. Traders should monitor these developments closely as they may impact energy prices and supply chains.
Not investment advice. For informational purposes only.