Research Abstract: The closure of the Strait of Hormuz following the outbreak of the 2026 Gulf conflict has produced the most severe global energy supply disruption since the 1973 Arab oil embargo. Approximately 20% of global oil supply and a comparable share of liquefied natural gas (LNG) trade — roughly 12–15 million barrels per day of crude oil and over 100 billion cubic meters of annual LNG capacity — has been disrupted since late February 2026. Crude oil prices have surged past USD 100 per barrel, LNG prices in Asia have spiked to multiples of pre-crisis levels, and fertilizer...