Beyond energy chokepoints: Breaking the Hormuz stranglehold

ASIAN markets are breathing a collective, if shaky, sigh of relief – for now.

At the time of writing, Brent crude had fallen to US$87.44 a barrel – a staggering US$32 drop from the peak of nearly US$120 on Mar 9.

In response, the Kospi has surged 9 per cent and the Nikkei 225 is up nearly 4.8 per cent, clawing back ground lost during the peak of the Musaffah 2 crisis, where a United Arab Emirates-flagged tugboat was hit by explosions at the Strait of Hormuz.