Iran Blocks LNG Passage Through Hormuz, Exacerbating Global Shortages
Iran has continued to block the passage of liquefied natural gas (LNG) carriers through the Strait of Hormuz, a critical chokepoint for global energy supplies. This blockade has persisted for weeks amid ongoing conflict involving the U.S. and Israel. The restriction has left numerous LNG tankers idling in the Persian Gulf, unable to secure passage. The blockade has significantly reduced traffic through the strait, which is crucial for the transport of a fifth of the world's LNG supply. Qatar, a major LNG exporter, has been forced to shut down its Ras Laffan export plant due to Iranian attacks, further exacerbating the supply shortage. The situation has led to a scramble for alternative energy sources, with countries like Japan and Bangladesh reverting to coal, and Taiwan spending heavily on spot LNG cargoes. 
