The war with Iran is disrupting oil and LNG shipments through the Strait of Hormuz, a key artery for global energy trade, sending prices higher and threatening global growth. The risks are highest for countries in Asia. Japan, South Korea and Taiwan depend heavily on the Middle East for their fuel, while India and China face inflation and supply risks if the conflict drags on. National stockpiles will help but provide only short-term relief. Fast growing Southeast Asian economies are especially vulnerable to price spikes and bidding wars for scarce cargoes. Analysts warn prolonged disruption could slow economic activity worldwide, hitting transport, industry and household budgets across Asia hardest.