Critical Diplomatic Moment as Iran Ceasefire Deadline Looms Says Cooper

The potential closure of the Strait of Hormuz (a chokepoint for ~20% of global oil and ~25% of LNG) creates a supply disruption risk for crude oil and natural gas. Channel: supply_shortage + logistics. Impact is global but especially severe for Asian and European importers reliant on Middle Eastern oil/gas. Oil and LNG prices likely to spike if strait is closed. Direct winners: alternative oil producers (US shale, Russia, North Sea), LNG exporters (US, Qatar, Australia). Losers: net oil importers (India, Japan, South Korea, Europe), shipping lines facing higher insurance and transit costs.