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Egypt turns to Libya for oil amid Hormuz disruptions
These discussions, held between Libya's National Oil Corporation and the Egyptian General Petroleum Corporation, follow logistical difficulties in the Strait of Hormuz that have severely impacted deliveries of Kuwaiti crude.
Beyond oil: 9 commodities impacted by the Strait of Hormuz crisis
War in the Middle East has caused significant damage to energy infrastructure and the near closure of the Hormuz Strait, driving oil prices up, but what about the region's other exports?Beyond energy, the conflict is disrupting key non-oil commodities – like methanol, aluminium, sulfur and graphite – impacting global manufacturing and the green energy transition.Disruptions to these industrial essentials are rapidly reshaping global supply chains – from fertilizers for future harvests to minerals driving high-tech industries. Here are nine at the centre of the shift.The shipping crisis in the Strait of Hormuz is now "the largest supply disruption in the history of the global oil market", according to the head of the International Energy Agency, Fatih Birol. While focus remains on the 11 million barrels of oil and 140 billion cubic metres of gas usually in daily global circulation, the impact extends far beyond energy.As the conflict in Iran continues, the blockage also exposes a deeper vulnerability: the Middle East’s role as a primary supplier of non-oil commodities. From the fertilizers essential for global food security to the minerals powering the energy transition, the current shortages are reshaping supply chains in real time.1. Fertilizers (urea and ammonia)The Arabian Gulf is the central hub for global agriculture, accounting for at least 20% of all seaborne fertilizer exports. The dependency is even more acute for urea, the world’s most widely used nitrogen fertilizer, with 46% of global trade originating from the region. This supply is critical for major agricultural economies, including India (18%), Brazil (10%), and China (8%). Analysts warn that a prolonged disruption will significantly tighten availability in these import-dependent regions, potentially driving up global food production costs - as well as inflationary pressures.2. SulfurSulfur, a critical energy material, is a primary byproduct of the region's oil and gas refining process, which is currently at a standstill. Nearly half of all global seaborne sulfur trade passes through the Strait, making the region the global 'price setter' for the commodity. It's the feedstock for sulfuric acid, a chemical required for two global workflows:Battery chemistry, which is utilised in the high-pressure acid leaching (HPAL) process required to refine nickel, cobalt and copper for electric-vehicle batteries and renewable-energy storage.Industrial phosphorus, which acts as a primary reagent in produc...
The Strait of Hormuz Crisis Is Driving a Wave of Global Energy ... - TIME
Iran's effective closure of the Strait of Hormuz, one of the world's most important energy transit routes, has caused a global oil shortage that is already affecting consumers from Europe to ...
Why the Strait of Hormuz Is More Than an Energy Crisis
Rising oil and gasoline prices have been the center of attention since the closure of the Strait of Hormuz. But that immediate effect tells only part of the story. Because oil and gas underpin production, transportation, and logistics, higher energy costs will gradually move through supply chains — meaning the most significant economic consequences may not appear for months.
