Asian economies scramble to find solutions to war's impact on oil markets

Iran continues to cut off the strait of Hormuz as it retaliates for the US and Israel's campaign against the Islamic Republic. The strategy has been effective as it piles pressure on the United States to the end the war, with global energy prices continuing to soar.

Key takeaways

Quick scan — what you need to know:

• Iran continues to cut off the strait of Hormuz as it retaliates for the US and Israel's campaign against the Islamic Republic.
• The strategy has been effective as it piles pressure on the United States to the end the war, with global energy prices continuing to soar.
• Over 80% of oil and gas typically passing through the Strait of Hormuz heads for Asia.

Background

What led here, in plain terms:

• The strategy has been effective as it piles pressure on the United States to the end the war, with global energy prices continuing to soar.
• Over 80% of oil and gas typically passing through the Strait of Hormuz heads for Asia.

Why it matters

Why readers and decision-makers should care:

• Over 80% of oil and gas typically passing through the Strait of Hormuz heads for Asia.
• Iran continues to cut off the strait of Hormuz as it retaliates for the US and Israel's campaign against the Islamic Republic.
• The strategy has been effective as it piles pressure on the United States to the end the war, with global energy prices continuing to soar.