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> Europe gets a lot of it's oil through the Straits of Hormuz. 20 mb/d, around 25% world seaborne oil trade, transits the Strait – 80% destined for Asia. 4%, o
by blitzar 7mo ago
> Europe gets a lot of it's oil through the Straits of Hormuz.
20 mb/d, around 25% world seaborne oil trade, transits the Strait – 80% destined for Asia. 4%, of the region’s crude flows are routed into Europe
LNG - In 2025, almost 90% of the total volumes exported via the Strait of Hormuz was destined to the Asian market, while the share of Europe was just over 10%.
Volume of oil (or LNG) isnt really the problem for the western hemisphere, its the doubling of price.
- hermitcrab 7mo agoI found this: https://www.visualcapitalist.com/charted-oil-trade-through-the-strait-of-hormuz-by-country/ https://www.visualcapitalist.com/charted-oil-trade-through-t... 3.8% is a lot less than the news reports were implying. But, as you say, it will drive up the global price.