Asian nations including India likely to be most affected by closure of Hormuz Strait: Report
According to US Energy Information Administration report, Asian markets would be most impacted by closure of Hormuz Strait. In 2024, China, India, Japan, and South Korea were the top destinations for crude oil moving through the Strait of Hormuz to Asia, accounting for 69% of all Hormuz crude oil and condensate exports. Iran's Parliament has approved closure of the strait.