US President Donald Trump urges seven nations to guard Strait of Hormuz; oil executives warn of global supply disruption
A commercial vessel is pictured offshore in Dubai on March 11. PIC/AFP
Global energy markets and military tensions collided Monday as US President Donald Trump urged about seven countries to deploy warships to secure the Strait of Hormuz while oil executives warned that disruptions in the vital corridor could trigger a worsening global fuel crunch. The warning comes as missile and drone attacks hit Gulf states and Brent crude climbed near USD 105 a barrel, with the conflict threatening one of the world’s most critical oil routes.
Flashpoints in the Gulf
>> Drone strike sparked fire at Fujairah oil facility in the United Arab Emirates
>> Missile attacks reported in Bahrain
>> Shipping risks rising near the Strait
>> Energy analysts say even brief disruptions in the corridor can ripple through global markets, supply chains and fuel prices worldwide.
A smoke plume rises from an ongoing fire at Dubai International Airport in Dubai on March 16. PIC/AFP
Oil industry warning
“Oil prices could rise further if markets tighten.”
Darren Woods, CEO Exxon Mobil
Mike Wirth, CEO Chevron, and Ryan Lance CEO ConocoPhillips
Warned supply disruptions could worsen the energy crisis.
What Trump said
“We’re asking countries that depend on the oil to help police the strait and keep it open.”
Donald Trump
Why Hormuz matters
Indicator Oil flowing daily Share of global oil trade Oil trapped behind strait Current Brent price
Figures 20 million barrels 20% 9-10 million barrels/day $105 barrel
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