The fact global shipping now treats “possible closure of the Strait of Hormuz” as something that can be worked around is honestly kind of insane on its own.
The fact global shipping now treats “possible closure of the Strait of Hormuz” as something that can be worked around is honestly kind of insane on its own.
The main issue in the short term was ships being stuck and ships not being able to get to their destinations in there. Now that’s sorted out, it’s just a fuel cost issue.
It’s a dead end in there, you can’t get through it like you can through the red sea into Suez. They are more concerned about that channel. That’s why the french have a carrier group near there, to protect shipping against the houthis instead of joining the US in it’s current mistake.
Another issue is that oil supply is lower due to infrastructure damage caused by the war.