The Strait of Hormuz: Where Geography Becomes a Global Price
The modern economy is built around dispersion. Companies use several suppliers. Governments diversify reserves. Traders move commodities across continents. Investors spread risk among markets. Geography sometimes refuses to cooperate. The Strait of Hormuz connects the Persian Gulf to the Gulf of Oman and the Arabian Sea. In 2024 and 2025, roughly 20 million barrels per…