The Ormuz Strait is 1 of the most crucial oil transport routes in the world. Around 18 million barrels of oil are transported regular by the Strait, accounting for about 20% of the world's regular request for this natural material. Blocking the Strait could shake the global energy market, said Shell's oil company head, Wael Sawan. "If this artery is blocked for any reason, it will have a immense impact on global trade," he noted.
According to an analytical company called Clarksons Research, the expanding hazard associated with Iran-Israeli attacks since 13 June caused the charter price of large tankers by Ormuz to emergence more than twice. The regular cost of chartering a ship carrying 2 million barrels of oil, e.g. from the Gulf to China increased from around $20,000 2 days before Israel attacked Iran to over 47.6,000 dollars on Wednesday.
The Ormuz Strait lies on a way leading from the Persian Gulf to the arabian Sea. This is the only way from the Gulf that oil transports can pass. Reuters recalled that in the past Iran has threatened to close the Ormuz Strait, but has never done so before. According to sources related to shipping and maritime trade, ships are presently avoiding Iranian waters in the strait region.
Iran and Israel have been in conflict for a long time, but the situation is increasing. As Israel and the United States are in friendly relations, Iran may effort to usage the blockade of the Ormuz Strait as a way to destabilise the energy marketplace and force Israel to cease military action. Economists estimation that if the Ormuz Strait is closed, oil prices could emergence by 50-100%, which could have serious consequences for the planet economy.
It is worth noting that the UN and the European Union are calling for a peaceful solution to the conflict and to avoid actions that could harm the global economy. Diplomats from around the planet are working to find a solution to avoid blocking the Ormuz Strait and prevent further escalation of the conflict.
It is besides worth noting that Poland has economical interests in the region, including investments in the oil sector. Therefore, Poland should be curious in a peaceful solution to the conflict and avoid blocking the Ormuz Strait. The Polish Government should support diplomatic efforts to resolve the conflict and prevent its escalation.
In conclusion, the situation around the Ormuz Strait is critical and requires immediate attention from planet leaders. The consequences of the blockade of the Ormuz Strait may be disastrous for the global economy, and diplomats and leaders should so work on a peaceful solution to the conflict and avoid further escalation.
