Iran War Reshapes Global Oil Trade as Hormuz Diversion Accelerates

Ongoing U.S./Israeli strikes on Iran are driving a structural rewrite of global oil trade routes, with exporters and importers diversifying away from the Strait of Hormuz, which previously handled ~20 million barrels per day. The shift appears irreversible, signaling a lasting change in energy logistics and supply security. Oil prices are posting another weekly gain amid pessimistic outlook, reflecting sustained risk premium.