[Brief Report] The Iran War and Its Emerging Effects on Global Energy Markets

This report provides an analysis of the origins, developments, current status, and long-term implications of the Iran war as of June 2026, as diplomatic peace talks proceed in Switzerland. Positioned as one of the world's most critical maritime chokepoints, the Strait of Hormuz became a severe geopolitical flashpoint when a three-month blockade choked off roughly 20% of global liquefied natural gas (LNG) and 25% of oil flows. The Strait’s blockade during the war laid bare the vulnerabilities, interdependencies, and risks faced by import-dependent countries due to their reliance on Middle Eastern supply. The report outlines how these weaknesses were addressed and their consequences for government and private sector interventions, international cooperation frameworks, and the future of the global energy mix.