The Strait of Hormuz crisis affects more than just oil. Here are 9 other commodities in Commodity News 07/04/2026 The shipping crisis in the Strait of Hormuz is now “the largest supply disruption in the history of the global oil market”, according to the head of the International Energy Agency, Fatih Birol. While focus remains on the 11 million barrels of oil and 140 billion cubic metres of gas usually in daily global circulation, the impact extends far beyond energy. As the conflict in Iran continues, the blockage also exposes a deeper vulnerability: the Middle East’s role as a primary supplier of non-oil commodities. From the fertilizers essential for global food security to the minerals powering the energy transition, the current shortages are reshaping supply chains in real time. 1. Fertilizers (urea and ammonia) The Arabian Gulf is the central hub for global agriculture, accounting for at least 20% of all seaborne fertilizer exports. The dependency is even more acute for urea, the world’s most widely used nitrogen fertilizer, with 46% of global trade originating from the region. This supply is critical for major agricultural economies, including India (18%), Brazil (10%), and China (8%). Analysts warn that a prolonged disruption will significantly tighten availability in these import-dependent regions, potentially driving up global food production costs – as well as inflationary pressures. 2. Sulfur Sulfur, a critical energy material, is a primary byproduct of the region’s oil and gas refining process, which is currently at a standstill. Nearly half of all global seaborne sulfur trade passes through the Strait, making the region the global ‘price setter’ for the commodity. It’s the feedstock for sulfuric acid, a chemical required for two global workflows: • Battery chemistry, which is utilised in the high-pressure acid leaching (HPAL) process required to refine nickel, cobalt and copper for electric-vehicle batteries and renewable-energy storage. • Industrial phosphorus, which acts as a primary reagent in producing high-analysis phosphate fertilizers, vital for maintaining soil fertility. Lack of availability is forcing industrial slowdowns in hubs like Indonesia and the copper belt of Africa. As prices surge, disruption threatens both sustainable transport and large-scale commercial farming. 3. Methanol Around a third of global seaborne methanol trade passes through the Strait of Hormuz, so disruption could tighten the supply of a key chemical feedstock for resins, coatings and plastics, with knock-on effects across chemical value chains. The situation is particularly significant for China, the world’s largest methanol buyer, where port inventories could fall from comfortable levels towards “below warning thresholds” if exports from the Middle East remain curtailed, raising costs for producers of plastics, paints and synthetic fibres. 4. Graphite feedstocks The synthetic graphite used in electric vehicle (EV) battery anodes relies on petroleum coke – a byproduct of oil refining – as its primary feedstock. The impact on synthetic graphite prices could be more severe than other battery materials, as oil refineries may opt to focus on higher-value outputs while prices rally – tightening availability of the petroleum coke byproduct on which synthetic graphite production depends. With shipping costs also rising, natural graphite prices face additional upward pressure – adding further strain to EV battery costs already squeezed by disru