crude oil prices jump 8 on fears of disruption in strait of hormuz

Geopolitical risk premium added to crude oil prices due to potential disruption of Strait of Hormuz, a chokepoint for ~20% of global oil transit. Channel: supply_shortage (if disruption materializes) + logistics (insurance/freight costs). Impact is global but disproportionately affects Asian and European importers reliant on Middle Eastern crude. Direct winners: alternative crude suppliers (US shale, Russia, North Sea) and LNG exporters. Losers: net oil importers, refiners without diversified feedstock, shipping lines exposed to Hormuz transit. Margin squeeze for downstream refiners if crude costs rise without immediate product price pass-through.