Chokepoint
Strait of Hormuz
Every commodity below names Strait of Hormuz in its sourced corridor data. Shares are 2024 trade structure — exposure, not a forecast. Where a route share is unknown, no sourced figure was found; unknown is not zero.
Crude oil
1 lane through these watersStrait of Hormuz
Serves Saudi Arabia, United Arab Emirates, KW, Qatar, Iraq, IR · 27% of global maritime oil trade (crude + petroleum products)
Source: U.S. Energy Information Administration, 2024
Top exporters worldwide
Saudi Arabia
14.28% of world exports
Russia
9.49% of world exports
United States
9.33% of world exports
United Arab Emirates
8.75% of world exports
Canada
8.29% of world exports
Scenarios that shock this lane
What if Hormuz stays choked through winter? · Strait of Hormuz
43.07% of Japan’s crude oil imports come from United Arab Emirates
34.82% of South Korea’s crude oil imports come from Saudi Arabia
What if energy infrastructure gets hit next? · Persian Gulf energy infrastructure
43.07% of Japan’s crude oil imports come from United Arab Emirates
34.82% of South Korea’s crude oil imports come from Saudi Arabia
Lng
1 lane through these watersStrait of Hormuz (Qatar LNG lane)
Serves Qatar · 20% of global LNG trade
Source: U.S. Energy Information Administration, 2024
Top exporters worldwide
Australia
21.64% of world exports
United States
19.69% of world exports
Qatar
17.4% of world exports
Russia
8.14% of world exports
Malaysia
6.73% of world exports
Urea
1 lane through these watersMiddle East Gulf urea terminals (Oman / Qatar / Saudi Arabia)
Serves Oman, Qatar, Saudi Arabia · 21% of global urea trade (derived: ~10.7 Mt of ~50.8 Mt)
Source: UNCTAD via Ecofin Agency; Rystad Energy (corroborating), 2025/26
Top exporters worldwide
Russia
14.11% of world exports
China
9.58% of world exports
Oman
7.89% of world exports
Qatar
5.25% of world exports
Egypt
4.92% of world exports
Illustrative scenario lens — not a prediction, not financial advice.