Strait of Hormuz Closure Causes Largest Oil Demand Drop Since Pandemic (legrandcontinent.eu)

• Strait of Hormuz blockaded after war breaks out in Iran
• Oil demand falls by 5 million bpd – biggest drop since COVID-19
• S&P Global reports supply shock and price spikes

"The closure of the Strait of Hormuz following the outbreak of war in Iran sent oil prices soaring, causing a massive drop in global demand of 5 million barrels per day, according to S&P Global. This is the most significant demand decline since the COVID-19 pandemic."