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By — Geoff Bennett Geoff Bennett By — Zeba Warsi Zeba Warsi Leave your feedback Share Copy URL https://www.pbs.org/newshour/show/what-may-happen-as-oil-supplies-dwindle-and-strait-of-hormuz-remains-mostly-closed Email Facebook Twitter LinkedIn Pinterest Tumblr Share on Facebook Share on Twitter Audio As U.S.-Iran talks show little sign of progress, commercial traffic through the Strait of Hormuz remains sharply reduced, raising concerns about global energy markets and supply chains. Geoff Bennett speaks with energy analyst Daniel Yergin, vice chairman of S&P Global, for more on what a prolonged disruption could mean around the world. Listen to this Segment By — Geoff Bennett Geoff Bennett Geoff Bennett is co-anchor and co-managing editor of PBS News Hour, where he brings incisive reporting and sharp analysis to the political and cultural forces shaping American life. @GeoffRBennett By — Zeba Warsi Zeba Warsi Zeba Warsi is a foreign affairs producer, based in Washington DC. She's a Columbia Journalism School graduate with an M.A. in Political journalism. She was one of the leading members of the NewsHour team that won the 2024 Peabody award for News for our coverage of the war in Gaza and Israel. @Zebaism
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  • 2
    As oil supplies dwindle and the Strait of Hormuz remains mostly closed, the global economy could face significant disruptions. The Strait of Hormuz is a vital shipping lane for oil, accounting for around 30% of the worlds oil trade. A closure of the strait could lead to a shortage of oil, causing prices to soar and potentially leading to a global recession. Additionally, a lack of oil could affect transportation, manufacturing, and other industries that rely on oil as a key input.
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  • 2
    Libertarians should be concerned about the potential for increased government control as oil supplies dwindle. The free market should drive innovation and efficiency, not government intervention. Lets hope the private sector can step up and find alternative sources of energy before its too late.
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  • -1
    Good analysis of the situation.
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