Aramco CEO: Hormuz Disruption Could Hit Global Economy

The CEO of Saudi Aramco, Amin Nasser, has warned that prolonged disruption of shipping through the Strait of Hormuz could have “catastrophic” consequences for global oil markets and the wider economy amid rising military tensions in the region.

Speaking at a press conference following the company’s 2025 results announcement, Nasser described the current crisis as the biggest challenge the regional oil and gas sector has faced compared to previous crises. He emphasized that any long-term interruption of traffic through the strait would directly affect global energy supplies.

Nasser explained that disruptions in one of the world’s most critical oil transit routes could have far-reaching effects beyond the energy sector, including shipping, insurance, industry, and the global economy—particularly given that global oil inventories are lower than in previous years.

His remarks come amid escalating tensions in the Gulf, following Iranian threats to close the strait if U.S. and Israeli military strikes continue, raising widespread concerns in international energy markets.

Oil prices have already experienced significant volatility in recent days. Brent crude surged to nearly $120 per barrel, its highest level in over three years, before retreating amid expectations that the Middle East escalation could be contained.

The Strait of Hormuz remains a vital strategic energy corridor, with roughly one-fifth of the world’s daily oil trade passing through it, making any disruption a major driver of global oil price movements.