Vandana Hari, founder and CEO of Vanda Insights, described the current oil supply crisis as unprecedented, noting that the world has never before witnessed a situation where 20 percent of global oil supply had been disrupted for more than 10 days. She explained that the crisis has been compounded by geopolitical posturing, psychological warfare, and rhetoric alongside battlefield developments, creating a confusing and chaotic environment for physical markets. Hari highlighted that the immediate impact has been most visible across Asia, where more than 80 percent of crude and condensate flows from the Persian Gulf via the Strait of Hormuz are destined. She warned that oil and gas price increases will have global repercussions, driving inflation and creating economic headwinds across all economies, as energy costs percolate into every aspect of consumer life, from fuel pumps to groceries and consumer durables.
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