If tensions between Iran and Israel lead to the closure of the Strait of Hormuz this would cause a surge in crude oil and liquefied natural gas prices. The warning comes from analysts with Indian Motilal Oswal Financial Services. The firm acknowledged that de-escalation efforts would help avoid a price spike but noted the importance of the Strait of Hormuz, which currently handles 21 million barrels daily in crude and other liquid energy cargos. In the event of a closure, finding alternative routes for these volumes would be close to…
