Strait of Hormuz

Even if diplomatic progress continues, the Strait could be closed again. As a result, the geopolitical risk premium attached to Gulf energy exports is unlikely to disappear entirely.

After 15 weeks of effective closure, shipping routes, energy markets, and supply chains have been reshaped, leaving changes that could endure long after the war has ended

Beijing's export restrictions on sulphuric acid are pressuring fertilisers, metals, and clean energy industries, exposing fragile supply chains as disruption spreads around the Strait of Hormuz

Even when appeals to open the Hormuz Strait come from a close ally like Beijing, they fall on deaf ears in Tehran. But hope is not yet lost.

With maritime traffic in the critical waterway severely disrupted, interest in alternative routes grows. But the same constraints persist.

With Iran's effective closure of the Strait of Hormuz, alternatives for Gulf energy transit are being sought. Could the Saudi landmass straddling two seas be bridged for the benefit of all?

As a route for Gulf energy exports, nothing can fully replace the Strait of Hormuz, which remains closed by Iran, but a Saudi port city on the Red Sea could hold some of the answers.

Disruption in the Strait of Hormuz and rising energy prices are exposing the structural vulnerabilities of Europe's economy

Caught between Iranian collapse, Gulf instability, and a closed Strait of Hormuz, Beijing faces a geopolitical dilemma with no neat solution