Singapore's Foreign Affairs Minister Vivian Balakrishnan has described the closure of the Strait of Hormuz as an "Asian crisis".   SINGAPORE: A war in the Middle East has become an economic crisis for Asia. The closure of the Strait of Hormuz, one of the world's most critical energy chokepoints, has disrupted fuel supplies and pushed up prices across the region. About 20 million barrels per day (mb/d) of crude oil and oil products, or roughly a quarter of the world’s seaborne oil trade, passed