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The war in the Middle East and the closure of the Strait of Hormuz has generated significant consequences for the global economy. The campaign exposed the sensitivity of the global economy and its structural vulnerabilities in the face of widespread disruptions to supply chains. Iranian strikes on critical infrastructure across the region, including LNG facilities, petrochemical plants, and export infrastructure throughout the Gulf, disrupted the production and transportation not only of crude oil and natural gas, but also of vital industrial inputs such as helium, petrochemicals, fertilizers, and aluminum, materials that constitute essential components in advanced manufacturing industries ranging from semiconductors and aerospace to automotive production and AI infrastructure. At the same time, the crisis underscored the world economy’s dependence on narrow and concentrated maritime chokepoints, with nearly a quarter of global seaborne oil trade passing through the Strait of Hormuz.

In response, Saudi Arabia and the United Arab Emirates have accelerated efforts to activate and expand alternative export routes designed to bypass the strait, foremost among them Saudi Arabia’s East–West pipeline to the Red Sea and the UAE’s Habshan–Fujairah pipeline network connecting Abu Dhabi’s inland oil fields to the Gulf of Oman. However, Iran also moved to directly undermine these routes by targeting bypass infrastructure, illustrating the shift from regional energy competition to a broader struggle over the architecture of global trade routes themselves. At the same time, Tehran’s attempt to institutionalize transit fees on passage through the Strait of Hormuz, transforming geographic control through coercion into a long-term source of revenue and influence, reflects a broader strategy of converting Iran’s geographic advantage into political and economic leverage.

This spotlight report presents ten charts documenting the global economic effects of the closure of the Strait of Hormuz. From surging oil, gas, and jet fuel prices, to disruptions in aluminum and fertilizer supply chains, and mounting pressure on the global food price index, the charts together point to a single vulnerability in the global economy that evolved into a catalyst for a multidimensional crisis. The charts will be updated weekly and will continue tracking effects likely to persist well after the fighting subsides, as disruptions to global supply chains do not disappear the day after a ceasefire.