Oil chiefs warn Hormuz closure exposes fragility of global energy system

Oil chiefs warn Hormuz closure exposes fragility of global energy system Senior figures in the oil and gas industry say the war involving Iran is set to reshape the global energy system, warning that recent disruptions have exposed deep structural weaknesses. Speaking to CNBC, industry leaders said the closure of the Strait of Hormuz has laid bare how vulnerable global supply chains are to shocks. They warned the disruption will drive a fundamental shift in the energy landscape, with governments and companies expected to place far greater emphasis on resilience.