Authors : Sreeparna Banerjee | Abhishek Sharma
Published on: Apr 29, 2026
The Hormuz crisis has exposed Southeast Asia’s structural energy vulnerabilities, turning external disruption into region-wide economic stress
On 28 February 2026, the United States (US) and Israel launched a joint military offensive against Iran, leading to the rapid closure of the Strait of Hormuz—one of the world’s most critical energy chokepoints. By 4 March, maritime traffic had fallen to less than 10 percent of pre-war levels, pushing oil prices to US$ 95 per barrel and sharply increasing LNG prices in Asian markets. Although a temporary ceasefire enabled limited shipping to resume, transit remains restricted and volatile, as intermittent disruptions keep flows well below normal levels.
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