The secondary impact of the Strait of Hormuz closure: The shipping fuel crisis is more urgent than crude oil

汇通财经2026/03/16 06:41

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(1) Analysis points out that the secondary effects caused by the substantial closure of the Strait of Hormuz deserve high attention from investors, as the surge in refined oil prices has exceeded that of crude oil, potentially causing further shocks to the global economy. The disruption of oil supply from the Middle East is driving up the prices of fuels relied upon by the global transportation system at an even faster pace. (2) The issue of fuel oil, which serves as the power source for ships, is the most urgent. The near paralysis of this route constitutes a "double blow" to such products: refineries in the Persian Gulf are themselves a major direct source of fuel oil, and crude oil from this region yields more fuel oil compared to other types. Therefore, fuel oil prices are rising faster than crude oil, even reaching unprecedented quotations, with the market concerned that supply may soon be exhausted. (3) Meanwhile, jet fuel and diesel are also "outperforming" crude oil futures. Given that these prices directly affect businesses and households, focusing only on the WTI and Brent crude oil markets may severely underestimate the potential impact of the current situation on inflationary pressures and long-term growth prospects.

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路透社•2026/10/08 16:11