The war in Iran and closure of the Strait of Hormuz have disrupted global helium supplies, with Qatar producing roughly one-third of the world's helium. The specialized containers that once transported this critical gas through the strait are now stranded, causing prices to spike and suppliers to declare force majeure. Businesses across multiple industries are scrambling to address looming shortages as the strategic US helium reserve, sold off in 2024, is no longer available.

Helium's unique properties make it exceptionally difficult to substitute in many applications. With the lowest boiling point of any element at just 4.2 kelvin, liquid helium remains the only practical coolant for superconducting magnets in MRI machines and semiconductor manufacturing. The US and Qatar together produce around two-thirds of global helium supply, with the gas extracted as a byproduct of natural gas from underground pockets where it collects over millions of years through radioactive decay.

The semiconductor industry uses approximately 25% of worldwide helium for cooling superconducting magnets, cleaning vacuum chambers, and precision heat transfer during silicon ingot production. MRI machines consume about 17% of US helium to cool niobium-titanium magnets that must remain at 9.2 degrees above absolute zero. While modern MRI machines have become 'zero boil-off' requiring less frequent refills, helium remains irreplaceable for these critical medical and technological applications.