The closure of the Strait of Hormuz following US-Iran tensions has severely disrupted Europe's fuel supply, mirroring or exceeding the impact of past energy crises and the Russia-Ukraine conflict.

• Ship traffic through the strait, crucial for 21 million barrels of oil daily, has plummeted to single digits, significantly impacting global energy markets.
• Key figures like Fatih Birol, head of the International Energy Agency, have highlighted the severity of the crisis, noting its worse combined impact than the 1970s oil shocks and the Ukraine gas crisis.
• The disruption, particularly to LNG shipments from Qatar, has driven up fuel prices across Europe, leading to economic strain and divisions within the EU.