Analysis-Hormuz Closure Divides the Fortunes of Middle Eastern Oil States
By Ahmad Ghaddar and Yousef Saba LONDON, April 6 (Reuters) – The Strait of Hormuz’s closure and the resulting surge in global oil prices have handed financial windfalls to Iran, Oman and Saudi Arabia, while other states that lack alternative shipment routes have lost billions of dollars, a Reuters analysis found. Iran effectively shut the Strait – a route for about a fifth of global oil and LNG flows – after U.S. and Israeli airstrikes on Iran at the end of February led to a widening conflict. It later said it would allow transits by vessels that had no U.S. or Israeli links. As a result, some tankers have managed to cross the narrow waterway, but energy markets have still experienced unprecedented disruption. International Brent crude rose by 60% in March, a record monthly increase. U.S. President Donald Trump has threatened to rain “hell” on Tehran unless it makes a deal by the end of Tuesday that would allow traffic to start moving through the Strait of Hormuz. GEOGRAPHY DETERMINES OIL FORTUNES While much of …

