US-Iran Conflict: Historic Oil Supply Disruption Looms Over Strait of Hormuz

• US-Iran conflict sparks deep concern in oil market, threatening historic supply disruption via Strait of Hormuz.
• S&P Global warns of potential largest oil supply disruption if movement through the critical Strait of Hormuz is halted.
• Daily tanker traffic through Strait of Hormuz drastically fell from 60 to 5 on March 1st, risking 15 million barrels/day supply.
• 82% of crude and petroleum products, along with 18% of LNG, passing through the Strait go to Asian countries.
• A sustained 7 million barrels/day shortage could push oil prices above $100/barrel, severely impacting the global economy.