Hormuz threats lose their sting
As Gulf states progress bypass projects, time runs down on Iran’s sabre-rattling
The Strait of Hormuz is the world’s key oil chokepoint, with more than 20pc of global crude demand passing through the waterway each day. Repeated threats by Iran over the past decade to close its shipping lanes have thus proven headline-grabbing. Should it risk doing so, the likely result would be a material spike in oil prices as Mid-East Gulf supply was constrained. The logical next step would be swift intervention, almost certainly of a military nature, to remove any blockage if possible. While the threat has somewhat subsided over the last few years, last month Iran’s deputy commander of political affairs, General Yadollah Javani, warned that, if there was a need to close the strait, Ir
Also in this section
10 December 2024
Sector at economic and strategic crossroads, but clear path ahead for midstream additions
30 November 2024
Decades of turmoil have left Iraq’s vast energy potential underutilised, but renewed investment and strategic reforms are transforming it into a key player in the region
29 November 2024
The country's fifth and sixth oil and gas bid rounds have attracted a range of new players with gas as well as oil ambitions—and there’s a seismic shift in the contracting process
28 November 2024
Iraq is charting a new path for its indigenous resources and its youth, hoping to electrify the future with a mix of reforms and modernisation to fuel growth