How to Navigate Market Shocks
· 8 min read
When the Strait Closes
Brent crude above $120. QatarEnergy declaring Force Majeure on LNG contracts. Fertilizer prices heading toward $650 per tonne. The near-complete closure of the Strait of Hormuz, the chokepoint through which 20% of the world's oil and one-fifth of global LNG normally flows, has created what the IEA is calling “The greatest global energy and food security challenge in history.”