Oil Market Can’t Live Without Hormuz Barrels for Long

The oil market faces increasing stress as the Strait of Hormuz remains a critical waterway for global barrels. Simultaneously, the ongoing US-Iran conflict has heightened concerns regarding key maritime chokepoints. Specifically, the Bab el-Mandeb Strait is identified as a vital route, alongside the Strait of Hormuz, which are both essential for global shipping. India is particularly vulnerable, as it relies on seven critical sea routes that cannot be compromised by these geopolitical tensions.