Giulia Petroni

20 million barrels of crude oil and refined products pass through this strait each day, meaning that even limited delays can have significant impacts for supply chains.

Now, what we know is that Iran's Islamic Revolutionary Guard Corps has warned ships to avoid this passage, and this has obviously prompted many vessels to turn back and reroute.

It's not just

Commodities, container shipping companies, including Maersk, Epic Lloyd, are rerouting vessels around the southern tip of Africa, trying to avoid the Swiss Canal and the Strait of Ormus.

We have other pipelines bypassing the Strait, especially in Saudi Arabia and the UAE.

However, these cannot fully compensate for the Strait's capacity in the event of a complete closure.

So that would have a major, major impact for supply chains.