The effective closure of the Strait of Hormuz following the outbreak of war between the United States, Israel, and Iran in late February has disrupted global energy supplies and rattled financial markets. Oil prices have surged while stock markets fluctuate amid uncertainty over when Iran will reopen the crucial shipping route, which carries about one fifth of the world’s oil.

Only a limited number of ships are currently able to pass through the strait each day, and attacks on regional energy infrastructure have driven prices even higher. The prolonged disruption has intensified concerns about fuel shortages and rising transportation costs.

Asia has been hit hardest by the crisis, as nearly ninety percent of the oil and gas moving through the strait is destined for Asian economies. The supply shock is now affecting daily life across the region, increasing costs for businesses and households alike.