The Strait of Hormuz typically carries roughly one-fifth of seaborne petroleum trade, and Iran's confirmed control of the corridor, reiterated by Islamic Revolutionary Guard Corps commander Yadollah Javani on May 4, 2026, sustained crude risk premiums through the Labor Day period and raised the implied cost of imported hydrocarbons for energy-deficient economies in Europe and Asia. Higher imported energy costs improve the relative economics of domestic wind, solar, and nuclear additions because each megawatt of renewable capacity consumes materially more copper than the fossil fuel generation it displaces. ... (full story)