In Asia, the global oil crisis is turning into an everything crisis

If this helps Asia get off its addiction to wrapping absolutely everything in about 5 layers of plastic, there may be an upside here.

(For the uninitiated: if you buy a packet of biscuits in Europe, you'll get a cardboard box, maybe one interior wrap of plastic, and the biscuits. The same packet of biscuits in China will see every two biscuits wrapped in its own sealed plastic bag. Each of those will have a small plastic bag of "oxygen remover" for God knows what reason. The bags will all then be carefully nestled into a thick plastic tray. The whole lot will then get another layer of plastic wrapped around it. Everything is like this there (and most of South East Asia in my experience) - it's genuinely nuts.)

This isn't surprising, 20% of the world's supply of literally anything would have profound impacts with how tightly coupled the world supply chain is. When that resource is a basic need such as petrol, things tend to become dramatic quite quicly

Iran ironically helping us get off the oil and plastic koolaid.

That strain is now spreading into every corner of the consumer market as prices rise for materials like plastic, rubber and polyester. The impact is so far most evident in Asia, which accounts for more than half of the world’s manufacturing and is heavily reliant on imports for oil and other commodities.

In South Korea, where people have been panic-buying trash bags, the government has encouraged event organizers to minimize use of disposable items. Taiwan has started a hotline for manufacturers that have run out of plastic, while its rice farmers told local media they may hike prices because they can’t get vacuum-sealed bags.

In Japan, the oil crisis has sparked fears that patients with chronic kidney failure won’t be able to get treatment due to a lack of plastic medical tubes used in hemodialysis. Malaysian glove manufacturers say a dearth of a petroleum byproduct needed to make rubber latex is threatening global supplies of medical gloves.

It's pay walled.

It is not just oil. Lots of fertilizer, Helium and alluminium also come via Hormuz.

I'm totally judging that article by the AI image they used. Negative view even before I open the link.