Tensions High Between Israel and Iran, Closure of Strait of Hormuz ‘Under Consideration’

Rapidly rising tensions between Israel and Iran spark concerns about potential major disruptions in the global oil trade following a series of ‘tit-for-tat’ missile strikes that began on June 13. Specifically, the closure of the Strait of Hormuz at the Persian Gulf can limit, if not temporarily stop, oil from coming out of the Persian Gulf, potentially causing an energy crisis in oil import-dependent countries like the Philippines.

Read the full assessment here.