Asian nations are bracing for high costs and shortages of gas from the Iran war as the flow of energy products to Asia through the Strait of Hormuz has been interrupted by threats from Tehran.
Roughly 20 percent of the world’s oil and liquefied natural gas (LNG) flows through the Strait of Hormuz, the narrow waterway linking the Persian Gulf with the Gulf of Oman. The strait is only about two nautical miles wide at its narrowest point, and ships passing through it are exposed to attack from the mountainous Iranian coast.
Asia gets about a third of its LNG and 60 percent of its crude oil through the Strait of Hormuz, so it is especially nervous…
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