ITDP’s Response to the Iran Energy Crisis (opens in new tab)

The current energy crisis, stemming from the closing of the Strait of Hormuz, has increased oil prices by up to 60% and natural gas prices by up to 100% in the last few months. The transport sector is heavily reliant on these fossil fuels, and the global nature of oil markets has meant that even energy-exporting countries are not immune to the impacts of the crisis. The crisis has also established that the Straight is a critical vulnerability to international oil and natural gas flows. Even a...