A prolonged closure of the Strait of Hormuz could cause a critical supply chain crisisWhile the biggest energy shock in history has mostly prompted Irish consumers to worry about prices at the pump and growing inflation, the five-week-old Iran war is quietly brewing another crisis – a shortage of everyday goods such as food, smartphones and appliances, and medicines. Iran’s blockade of the Strait of Hormuz, in response to attacks by the US and Israel, has disrupted a fifth of the world’s oil and liquefied natural gas (LNG) supplies. But closure of this vital shipping route won’t just hit you in the pocket: if the war and its accompanying energy and petrochemical crises drag on, you may find emptier-than-usual shelves at your local shop, pharmacy or online retailer.
