Dear members and friends,

This month’s Chart of the Month Vol.39 turns the spotlight on the Strait of Hormuz—one of the most strategically critical passages for global energy flows. Around 20% of global LNG trade transits through the Strait, with an overwhelming 83% directed toward Asian markets, highlighting a strong regional dependence on uninterrupted supply.

At the same time, the evolution of energy prices since 2015 reveals an important structural trend: natural gas markets are significantly more volatile than oil. While oil prices tend to stabilize within broader historical ranges, gas reacts more sharply to geopolitical disruptions, amplifying short-term uncertainty.

The ongoing Hormuz crisis reinforces this asymmetry. Any disruption in the Strait does not just affect physical flows—it quickly transmits through global markets, influencing price formation and increasing risk exposure for major importing regions.

From Asia’s reliance on LNG flows to the interconnected nature of global supply chains, the data underscores a key takeaway: energy security today is as much about geopolitics and infrastructure as it is about supply and demand.

👉 Discover the full analysis and what it means for global markets in our latest Chart of the Month.

The “Chart of the Month” is a HAEE publication, powered by Deloitte.

The HAEE Team