As Iran's effective closure of the Strait of Hormuz in the Middle East stretches into its fourth week, attention remains firmly on the rising costs of crude oil and LNG.

But a bottleneck in the supply chain of another gas is causing alarm for industries across health, technology and manufacturing - helium.

And it's not party balloons affected.

The gas is critical in the operation of MRI machines, welding and the production of semiconductors - which power everything from your smart phone to electric vehicles and artificial intelligence tools.

And unlike our local gas and oil industries, Australia relies solely on global imports.

• Guest: Phil Kornbluth, global helium consultant
• Producer: Grace Stranger