Energy and Chemical Industries Impacted by Strait of Hormuz Crisis

The Strait of Hormuz crisis has drawn significant attention to crude oil and liquefied natural gas (LNG) due to their critical roles in global energy supply. According to Ming Pao, the impact extends beyond energy companies, affecting various international and domestic firms within the chemical supply chain. This is because oil and gas are integral to the production of numerous by-products. Consequently, many companies are invoking 'force majeure' contract clauses to address disruptions caused by the crisis.