Citadel CEO Ken Griffin issued a stark warning at the Semafor World Economy Summit on April 14, 2026: if the Strait of Hormuz remains closed for six to twelve months, a global recession is unavoidable.
Griffin, who manages $69 billion in AUM and holds a personal net worth of $51.2 billion, doesn't use absolute language lightly. He built Citadel from $4.6 million in 1990, recovered from $9 billion in crisis-era losses, and has consistently outperformed over 35 years.
For Korean investors, the stakes are higher than most. South Korea channels roughly 70% of its crude oil imports through the Hormuz strait, some 1.7 million barrels per day. Nomura flags Korea as one of Asia's most vulnerable economies on the current account front, with energy imports representing 2.7% of GDP. A $20 rise in oil prices translates to roughly 10 trillion won in additional annual import costs.
Brent crude peaked at $116.29 on March 9 before easing to around $99.39 (April 16). The EIA projects a Q2 2026 peak of $115/barrel. Goldman Sachs warns that another month of closure keeps Brent above $100 for the rest of the year.
For the full portfolio risk analysis in Korean, visit Snakestock
Top comments (0)