Crude Crashes, Dollar Bucks
TEHRAN PROVINCE, IRAN, JUN 25 – About 75% of Asia's oil imports pass through the Strait of Hormuz, revealing vulnerabilities amid Israel-Iran tensions and prompting calls to accelerate renewable energy adoption.
- Following U.S. strikes on Iran’s nuclear sites, Tehran hinted at closing the narrow waterway connecting the Persian Gulf to the Gulf of Oman, exposing Asia’s heavy oil and gas reliance.
- Asia’s reliance on Middle Eastern oil and gas, with four countries—China, India, Japan, South Korea—comprising 75% of imports, highlights vulnerability to supply disruptions through the Strait of Hormuz.
- Data shows the Strait of Hormuz handles about 20% of global oil and LNG, with 75% of Japan’s and over 70% of South Korea’s imports passing through its 21-mile-wide channel.
- Oil prices paused as Strait instability risks sending shockwaves to China and India, highlighting Asia's vulnerability to supply disruptions.
- Experts warn that to ensure energy security amid Strait risks, Asian nations must rapidly accelerate their shift to clean, domestic energy sources, as Reynolds emphasizes.
22 Articles
22 Articles
Geopolitical crises - as lastly the conflict between Israel and Iran - endanger oil and gas imports. Do renewable energies offer more security in uncertain times?
Israel-Iran war was a wake-up call for Asia’s dependence on Middle East oil
Asia’s dependence on Middle East oil and gas — and its relatively slow shift to clean energy — make it vulnerable to disruptions in shipments through the Strait of Hormuz, a strategic weakness highlighted by the war between Israel and Iran.
Israel-Iran was a wake-up call for Asia’s dependence on Middle East oil
Asia’s dependence on Middle East oil and gas — and its relatively slow shift to clean energy — make it vulnerable to disruptions in shipments through the Strait of Hormuz, a strategic weakness highlighted by the war between Israel and Iran.
Israel-Iran war reveals Asian countries' risky reliance on Iranian fossil fuels
Around 20 percent of global oil and gas flows through the Strait of Hormuz between Iran and Oman, and the countries most dependent on those shipments are China, India, Japan and South Korea. Though a truce between Israel and Iran seems to be holding, experts say the only way for these countries to counter uncertainty is to boost their use of renewables.
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