Overseas Trade: Oil
(asked on 15th January 2026) - View Source
Question to the Foreign, Commonwealth & Development Office:
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what assessment she has made of the potential impact of the closure of the Strait of Hormuz on global oil trade.
Answered by
Hamish Falconer
Parliamentary Under-Secretary (Foreign, Commonwealth and Development Office)
This question was answered on 5th February 2026
Closure of the Strait of Hormuz would significantly disrupt global oil supplies, resulting in higher global prices. In the event of any global supply disruption, the UK holds emergency oil stocks that can be released to the market as part of a collective action by member countries of the International Energy Agency.