Trump Confirms US Iran Traded Fire Hormuz Says 953

The Strait of Hormuz is a critical chokepoint for global oil and LNG shipments. Military escalation raises the risk of supply disruption, triggering a risk premium in crude and gas prices. The channel is supply_shortage and logistics: any actual or perceived blockade would reduce tanker throughput, increase freight rates and insurance costs, and squeeze margins for Asian/European refiners and net importers. Impact is global but concentrated on energy-importing EM economies (e.g., India, Turkey, South Korea). Direct winners: alternative supply routes (US shale, Russia pipeline gas) and tanker owners; losers: import-dependent refiners and petrochemical producers.