From Kitchens to Economy: Overview and Impact of LPG Shortage
A narrow strait. A shooting war. And billions of people wondering if dinner will get cooked tonight. The Spark That Started It All This isn't a slow-moving energy policy story. This is a live crisis, ignited on February 28, 2026, when the United States and Israel launched military strikes on Iran. Tehran's response was swift — and devastating for global energy: Iran effectively closed the Strait of Hormuz to commercial shipping described as the first such closure in recorded history. Some 44.2 million tonnes of LPG passed through that bottleneck last year about 121,000 tonnes every single day, equal to 30% of all global seaborne LPG exports. By March 9, the price of crude oil had surpassed $100 a barrel for the first time since Russia's invasion of Ukraine in 2022. War-risk insurance premiums for vessels operating in the Gulf surged in some cases by more than 1,000% prompting insurers to cancel cover for ships entirely. One strait closed. The world's gas supply went w...