Trump’s Hormuz Blockade Risks Piling Pain on Asia Allies, China

MarketsTrump’s Hormuz Blockade Risks Piling Pain on Asia Allies, ChinaFacebookXLinkedInEmailLinkGiftFacebookXLinkedInEmailLinkGiftGift this articleContact us:Provide news feedback or report an errorConfidential tip?Send a tip to our reportersSite feedback:Take our SurveyNew WindowFacebookXLinkedInEmailLinkGiftBy Malcolm ScottApril 13, 2026 at 12:50 AM UTCBookmarkSaveUS President Donald Trump’s move to blockade the Strait of Hormuz risks deepening an unfolding economic crisis for Asia’s energy-dependent economies, including America’s allies in the region and China. “For the global economy and markets, the latest developments shift the focus back toward downside risks — pointing to higher oil prices and a larger blow to growth and boost to inflation,” Bloomberg Economics’ analysts including Jennifer Welch wrote in a noteBloomberg Terminal. Global benchmark Brent crude oil rallied as much as 8.6% on Monday to more than $103 a barrel, while European gas futures spiked almost 18% at one point.