Asia's Energy Shock Mapped Onto Three Variables: Storage, Pipelines, and Ties to Tehran

The three-month Strait of Hormuz closure beginning March 2026 exposed divergent vulnerabilities across Asian economies. China weathered the disruption better than Japan and South Korea because it had built strategic reserves, long-term Gulf contracts, and alternative pipelines from Russia and Central Asia. Japan and South Korea, seaborne-dependent with limited alternatives, face quarterly-long recovery even after the U.S.-Iran truce. The gap reflects not uniform exposure but infrastructure choices and diplomatic depth with Tehran.