A prolonged disruption in the Strait of Hormuz would ripple across energy markets, trade routes and geopolitics. The crisis highlights how a narrow waterway can still dictate the rhythm of the global economy.
Over two months have passed since the launch of U.S. strikes on Iran on February 28, 2026, which subsequently triggered Iran’s closure of the Strait of Hormuz. Located between Oman and Iran, the Strait of Hormuz serves as a critical connection point between the Persian Gulf, the Arabian Sea, and the Gulf of Oman. Its role as a geographic chokepoint has made it one of the most strategically important waterways in global trade and shipping. In January 2026, approximately 20 million barrels of oil per day passed through the strait aboard roughly 130 ships daily. However, the events unfolding since February 28 have made the future of the Strait of Hormuz, and, by extension, the global trade of oil and gas, deeply uncertain.
The Strait of Hormuz is no stranger to conflict. During the 1980s, the Iran–Iraq War led to sustained attacks on oil tankers, commercial vessels, and production facilities as Iran and Iraq competed for dominance in the Persian
