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The Strait of Hormuz: What It Means for Australia’s Cost of Living
Global events can feel distant from Australia, but when it comes to energy, shipping, and supply chains, what happens in the Strait of Hormuz does not stay there (EIA, 2023; IEA, 2023). This narrow waterway carries a significant portion of the world’s oil and gas, and any disruption—real or perceived—quickly ripples through everyday Australian life.
This article breaks the situation into two realistic scenarios: what happens if the Strait remains open, and what happens if it closes again. Read more…
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The global conflict has affected our cost of living.
We are keeping track of the increases.
The Strait of Hormuz is open for business. This is the first time in over a month that I have seen this level of traffic going through the Strait. Great News. Although we wont see the benefits for some time as tankers take over a month to sail to its destination, then the Crude Oil needs to be refined and shipped to Australia. This process takes just over a month to achieve. Better late than never.