Strait of Hormuz

This graphic illustrates the major commodities impacted by the conflict in the Gulf and the closure of the Strait of Hormuz following the US-Israel invasion of Iran on February 28. The second-order effects will ripple through nearly every industry, as approximately 13% of all seaborne chemical trade transits this waterway. Natural gas, ammonia, and sulphur—the essential building blocks of fertilizer—are particularly vulnerable. Nitrogen, phosphate, potash, and sulphate prices have increased significantly over the last 20 days. This disruption poses a severe threat to an already strained global supply chain.

Chemical Production Affected in the Gulf

Illustration Source: Barron’s 20 Mar 26