Reported about 12 hours ago
Shell CEO Wael Sawan has warned that a blockade of the Strait of Hormuz could significantly impact global trade, particularly in oil and gas, as the region is crucial for around a quarter of the world's oil trade. He highlighted Shell's contingency plans amid escalating tensions between Israel and Iran, which could lead to severe supply disruptions. The company is cautious with its shipping operations in the Middle East due to recent jamming incidents affecting navigation signals. As the situation evolves, potential U.S. involvement could further heighten risks in the area.
Source: YAHOO