Hormuz Disruption Recasts the Global Energy Week

The week shifted from confidence that Hormuz would remain open to sustained disruption threats, sharply raising risks for oil, LNG and shipping flows. The conflict then spread into broader economic and fuel-system pressure, from the IMF's growth downgrade to refinery disruptions, blackouts and emergency fuel production.

At the same time, producers added supply into weaker demand, deepening the tension between geopolitical price risk and fears of surplus. Electricity demand and data-center growth also pushed grids toward a new investment bottleneck, even as extreme heat tested reliability.