Global Energy, Power & Utilities

Hot Seat with Jason Gabelman | The Impact of Closing of the Strait of Hormuz

Apr. 09, 2026 - 1 minute 25 seconds

What Is the impact of the closing of the Strait of Hormuz on oil and gas?

In the Hot Seat, Jason Gabelman explains how closing the Strait of Hormuz could disrupt global energy markets. With 20 million barrels of crude oil and petroleum products and 80 million tonnes of gas moving through the passage, a closure could drive sharp price spikes and commodity volatility. Jason shares the impact on crude oil, diesel, jet fuel and global gas prices, and outlines how higher prices and refining margins could boost energy company earnings in the near term.

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Jason Gabelman
Jason Gabelman
Director, Sustainability & Energy Transition – Next Generation Fuels and Energy – Integrated Oil, Refining & Marketing, Liquefied Natural Gas (LNG) Research Analyst, TD Cowen

Biography

Jason Gabelman is a Director at TD Cowen, covering Sustainability & Energy Transition – Next Generation Fuels and Energy – Integrated Oil, Refining & Marketing, Liquefied Natural Gas (LNG) sectors. Mr. Gabelman joined TD Cowen in 2013 as a research associate for the refining & marketing team. He supported team growth into new coverage verticals such as integrated oil and LNG. Mr. Gabelman also spearheaded expansion of TD Cowen’s Energy & Materials Strategy product, marrying TD Cowen’s data science initiative with energy market analysis. He previously worked for BP’s U.S. Refining and Marketing segment, where he held a variety of commercial roles in finance, strategy, and refinery operations.

Mr. Gabelman earned a bachelor’s degree in business administration from the University of Michigan in 2010.