Shell CEO Warns of ‘Huge Impact’ If Strait of Hormuz Blocked

Shell Plc, one of the biggest traders of oil and natural gas, has contingency plans in case the conflict between Israel and Iran disrupts flows from the region, warning that a potential blockage of the Strait of Hormuz could deliver a substantial shock.

“If that artery is blocked, for whatever reason, it has a huge impact on global trade,” Chief Executive Officer Wael Sawan said at the Japan Energy Summit & Exhibition in Tokyo. “We have plans in the eventuality that things deteriorate.”