If the shock from the closure of the Strait of Hormuz has revealed economic vulnerabilities, it has also illuminated stark differences in how countries absorb energy-price turbulence. Those that have invested in more resilient clean energy sources are faring better and offering lessons for everyone else.
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NEW YORK—The closure of the Strait of Hormuz has triggered what the International Monetary Fund calls a “global yet asymmetric” rupture, disrupting the flow of roughly one-quarter of oil, one-fifth of liquefied natural gas, and one-third of fertilizer supplies. Energy and fertilizer prices have risen, supply chains have rerouted, and financial conditions have tightened unevenly around the world.
