Africa: The New Global Oil Hub Amid Strait of Hormuz Risks
Shipping through the Strait of Hormuz has plunged by as much as 90%, forcing vessels to reroute along Africa’s coastline as tanker traffic shifts away from high-risk corridors. Shipping through the Strait of Hormuz has declined by up to 90%. Rystad Energy estimates that repairs to Gulf energy infrastructure could cost up to $58 billion. … Read more