Global Oil Supply Crisis Looms as Strait of Hormuz Closes Amid West Asia Conflict

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Strait of Hormuz Closure Triggers Largest Oil Shock Ever; Asian Markets Plunge

Energy experts note that the current disruption alone is roughly equal to the combined supply losses from the five major crises listed above, highlighting the unprecedented scale of the shock.

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Moneycontrol•09-03-2026, 08:18

Strait of Hormuz Closure Triggers Largest Oil Shock Ever; Asian Markets Plunge

•West Asia war causes Strait of Hormuz closure, disrupting 20 million b/d oil supply.
•Analysts describe it as the largest oil supply shock in modern history, far exceeding past crises.
•Oil prices surge past $110 per barrel, intensifying fears about economic fallout.
•Asian stock markets slump: South Korea's Kospi plunges over 8%, Japan's Nikkei 225 tumbles 6.48%.
•Major tech stocks like Samsung Electronics (-10%) and SK Hynix (-11.6%) lead the sell-off.

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