Hormuz disruption is spreading beyond oil into broader commodity flows

the situation around Hormuz is starting to show up across multiple parts of the commodity system

around 20 million barrels per day move through the strait, close to 20% of global consumption, so even partial disruptions are enough to shift flows and pricing

crude is the most visible piece, with WTI up around +18% over the past 5 days, but the impact is extending into LNG, LPG, fertilizers and refined products moving along the same routes

shipping is adjusting in real time, with longer routes, higher insurance costs and tighter tanker availability starting to affect how barrels are delivered

this is already feeding into cross asset moves, with strength in upstream and energy linked names while parts of the value chain tied to demand are under pressure

the key variable now is how long these constraints persist and how smoothly flows can re-route across regions