Strait of Hormuz: 7 Critical Global Commodities Affected by Crisis

The ongoing conflict in the Middle East has brought one of the world's most important shipping routes – the Strait of Hormuz – into focus for nations around the globe. With roughly one-fifth of global seaborne crude oil and a significant share of several other critical commodities transiting through the narrow maritime chokepoint, current disruptions are sending shockwaves through the world’s supply chains.

Below we take a look at some of the top commodities currently disrupted by conflict in the Middle East. Also see:

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#1 – Sulphur

Sulphur is one of the most important industrial minerals on the planet, serving as the primary feedstock for sulphuric acid – a chemical essential for producing phosphate fertilizers that help feed the world. It is also a critical ingredient in refining nickel, cobalt, and copper used in electric-vehicle batteries and renewable-energy storage ^[1].

Approximately 50% of all global seaborne sulphur trade passes through the Strait of Hormuz, making the Middle East the world's dominant source and “price setter” for the commodity ^[2].

With oil and gas operations disrupted across the region – the source of sulphur production – industrial slowdowns are already rippling through hubs like Indonesia and copper-processing centres across Africa, threatening both food security and advanced tech manufacturing ^[2].

#2 – Primary Aluminum

Aluminum is a cornerstone material of the modern economy, used extensively in construction, transportation, packaging, and renewable energy infrastructure – from electric vehicles and aircraft to solar panels and power lines ^[3].

The Middle East supplies approximately 9% of global primary aluminum outside of China, and the disruption has already constrained Gulf smelter output ^[2].

According to the World Economic Forum, more than 150,000 tonnes of aluminum registered on the London Metal Exchange have been pulled from warehouses, reflecting the severity of the regional supply disruption and its impact on global markets ^[2].

#3 – Crude Oil

Crude oil is the bedrock of the global economy, playing an instrumental role in transportation, manufacturing, heating, and the production of thousands of everyday products – from plastics and pharmaceuticals to asphalt and synthetic fibres.

Approximately 20 million barrels of oil and oil products per day passed through the Strait of Hormuz in 2025 – about 25% of the world's entire seaborne oil trade – with 80% of that volume destined for markets in Asia ^[4].

The IEA has described the disruption as the most significant shock to global oil supply in modern history, sending prices surging and forcing energy-importing nations to urgently reassess their supply strategies.

#4 – Methanol

Methanol is a foundational chemical feedstock that can be used directly or further transformed to produce a variety of chemicals that are ultimately applied in a diverse range of sectors: construction, textiles, packaging, furniture, paints, coatings, and more ^[1]. Similar to sulphur, it is largely produced from fossil fuels, including natural gas and coal ^[1].

Around one-third (33%) of all global seaborne methanol trade passes through the Strait of Hormuz ^[2]. As a result, disruptions could tighten the supply of the key chemical feedstock used in plastics, resins, and coatings, among other important applications.

The situation is particularly concerning for China, the world’s largest methanol consumer, which uses it for a variety of industrial and chemical manufacturing processes ^[1].

#5 – Liquefied Natural Gas

LNG is one of the world's most critically demanded energy commodities, powering electricity grids, industrial manufacturing, home heating, and marine shipping across Asia, Europe, and emerging economies. Global LNG demand is accelerating in 2026, driven by energy-hungry markets across Asia and a Europe that has pivoted decisively away from Russian pipeline gas – making reliable, long-term LNG supply partnerships more urgent than ever ^[5].

Qatar is one of the world's top three LNG exporters and is heavily dependent on the Strait of Hormuz to reach global markets, with recent shipping disruptions estimated to have affected approximately 17% of Qatar's LNG export capacity and jeopardized around 10% of Europe's LNG imports ^[6].

LNG spot prices have surged as a result, prompting urgent calls from energy-importing nations for new, diversified, and dependable sources of supply ^[7].

#6 – Fertilizer

The Middle East is the world's engine for nitrogen-based fertilizers, with Gulf nations accounting for roughly 36% of global urea exports and 29% of ammonia exports ^[8] – two inputs that are foundational to crop production worldwide. Iran, Qatar, and Saudi Arabia are the dominant producers, with virtually all of their output reaching global markets through the Strait of Hormuz.

The disruption has cut deeply into supply chains across South and Southeast Asia, where countries like India, Pakistan, and Bangladesh depend not only on imported urea, but on Gulf LNG as a feedstock for domestic fertilizer manufacturing ^[9]. The compounding effect of sulphur shortages, given the commodity's role in phosphate fertilizer production, means the Strait closure is severing multiple fertilizer supply lines at once.

Countries least able to absorb rising fertilizer and component costs, particularly in sub-Saharan Africa and South Asia, face the gravest food security risks if shipping disruptions persist ^[8].

#7 – Helium

The Strait of Hormuz closure has exposed a surprisingly fragile Helium supply chain, which, is largely underpinned by Gulf countries. Qatar produces an estimated 30–35% of the world's helium as a byproduct of natural gas processing; when LNG operations at Ras Laffan ground to a halt, helium output stopped with them – instantly eliminating a third of global supply ^[10].

Helium is a critical and non-substitutable input in semiconductor fabrication and MRI machine operation ^[11], with South Korea and Taiwan – two of the world's most important chipmaking centres – among the most affected importers. The physics of the product make prolonged disruption especially damaging: stored liquid helium evaporates over time, meaning idle shipments don't just get delayed – they eventually disappear.

Helium shortages could hit within weeks, threatening AI-linked semiconductor supply chains and hospital equipment at a time when demand for both is at record highs ^[12]. It is, as one analyst noted, the fifth helium shortage in twenty years – and a recurring sign that the world has still not built enough geographic diversity into its helium supply base ^[12].

Global Maritime Chokepoints

While the Strait of Hormuz dominates today's headlines, it is far from the only vulnerability in the global maritime trade network – in fact, it ranks 8th out of 11 critical chokepoints by share of trade ^[13]. A disruption in the Strait of Malacca, the Strait of Taiwan, or the Strait of Gibraltar could dwarf the current crisis in scale. For example ^[13]:

One Strait. A World of Consequences.

The Strait of Hormuz crisis has made one thing undeniable: the world's supply chains are only as strong as their most vulnerable chokepoint, and the cascading shortages across oil, LNG, fertilizers, helium, and beyond prove that no nation is insulated from the consequences.

As disruptions persist, the countries least equipped to absorb rising costs – particularly across sub-Saharan Africa and South Asia – face the gravest long-term risks. The world doesn't just need the Strait reopened; it needs a fundamental rethink of how it builds resilience into the systems that feed, fuel, and power it.

Saskatchewan’s helium industry has a chance to help supply the world amid global supply chain disruptions, but federal policies are holding it back, industry leaders say.

Although Canada boasts the world’s fifth-largest helium reserves, industry leaders argue the country isn’t…

— Canada Action (@CanadaAction) May 22, 2026

SOURCES:

_{1 - https://www.spglobal.com/energy/en/products-solutions/chemicals/chemical-economics-handbooks-ceh}

_{2 - https://www.weforum.org/stories/2026/04/beyond-oil-lng-commodities-impacted-closure-hormuz-strait/}

_{3 - https://natural-resources.canada.ca/minerals-mining/mining-data-statistics-analysis/minerals-metals-facts/aluminum-facts}

_{4 - https://www.iea.org/about/oil-security-and-emergency-response/strait-of-hormuz}

_{5 - https://www.oxfordenergy.org/wpcms/wp-content/uploads/2026/02/Comment-LNG-Wave.pdf}

_{6 - https://ieefa.org/resources/strait-hormuz-disruption-would-jeopardise-10-europes-lng-imports}

_{7 - https://www.reuters.com/business/energy/european-buyers-hold-talks-ship-canadian-lng-via-panama-canal-diversify-supply-2026-04-15/}

_{8 – https://www.ifpri.org/blog/the-iran-wars-impacts-on-global-fertilizer-markets-and-food-production/}

_{9 - https://u.osu.edu/ohioagmanager/2026/03/10/what-does-the-iran-conflict-mean-beyond-higher-oil-prices/}

_{10 - https://www.newsnationnow.com/world/iran-war-helium-supply/}

_{11 - https://www.renewablematter.eu/en/strait-of-hormuz-helium-aluminium-non-oil-raw-materials-crisis}

_{12 - https://www.npr.org/2026/04/03/nx-s1-5762568/strait-of-hormuz-closure-deflates-global-helium-supply}

_{13 - https://www.csis.org/analysis/strait-hormuz-8-charts}