Oil Traders Lawyer Up as Hormuz Disruptions Trigger Billions of Dollars in Disputes

Some of the biggest names in oil trading are becoming embroiled in a complex web of disputes that could be worth many billions of dollars, as the industry wrangles over who should be liable for contracted shipments that weren’t delivered as a result of the Iran war.

The increasingly widespread issues are adding to headaches for producers and traders already grappling with the biggest oil supply shock in history, and threaten to haunt key Middle Eastern energy markets long after shipping through the Strait of Hormuz resumes, industry executives said.