How long can oil markets absorb the Hormuz shock?

The article explores the potential impact of tensions in the Strait of Hormuz on oil markets and the global economy, highlighting how improvements in oil efficiency have so far shielded the world from more severe disruptions. However, it warns that this cushion might lead to risky political decisions, as countries could become overconfident in their resilience to supply shocks. The piece underscores the importance of maintaining stability in the region for global economic health, stressing that any prolonged disruption could have far-reaching consequences.