- Oil supply routes through the Middle East are facing chokepoints, forcing reliance on imports and diversification.
- Crude flows through Fujairah bypass pipelines as the Hormuz closure impacts global energy markets and removes crude from global supplies.
- The closure of the Strait of Hormuz has impacted global energy markets, leading to the removal of 10-12 million barrels a day of crude oil from global supplies.
- The Strait of Hormuz is currently handling fifth of global crude oil shipments while facing costly secondary economic sanctions.
Crude Oil Flows Through Hormuz Amid Regional Tensions and Attacks
- Reports
- 3
- Developments
- 1
- Repetition
- 67%
New informationRepeats or wire copies
What happened
Crude oil is currently being shipped through the Strait of Hormuz toward Asia. The Strait handles one-fifth of global crude oil shipments, and its disruption has resulted in the removal of 10 to 12 million barrels a day from global supplies. Ship brokers noted that crude carried through Hormuz on shuttle vessels is often transferred via ship-to-ship operations in the Gulf of Oman for onward voyages to Asia.
Why it matters
The operational viability of Saudi Aramco is critically dependent on the stability and functionality of the Strait of Hormuz. Furthermore, Houthi attacks around Bab el-Mandeb have reportedly forced the rerouting of Yanbu crude into the Mediterranean for onward shipments to customers in both Europe and Asia.
The Strait of Hormuz is currently handling fifth of global crude oil shipments while facing costly secondary economic sanctions.
Who's involved
- HormuzCity in Hormozgan Province, Iran, through which crude oil passes.
- Saudi ArabiaCountry whose oil exports are structurally dependent on the Strait of Hormuz.
- Saudi AramcoSaudi Arabian state-owned petroleum company whose operations rely on the Strait of Hormuz.
- Abu Dhabi National Oil CompanyState-owned petroleum company whose oil transit operations depend on the Strait of Hormuz.
- KuwaitSovereign state whose oil exports depend on the Strait of Hormuz.
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The entities involved
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Hormuz
city in Hormozgan Province, Iran
Related events
- Crude oil exports are maintained through the Strait of Hormuz, with cargoes transferred off the UAE and Oman using terminals in Iraq and Bahrain.
- The closure of the Strait of Hormuz is impacting regional trade, leading to fertilizer supply chain issues tracked by IFPRI.
- Trump and Putin struck a deal to import diesel to North America amid supply issues in the Strait of Hormuz.
- Closure of Strait of Hormuz pressures consumption while military operations disrupt oil production, according to IEA reports.
- Oil shipments are passing through the Hormuz strait, affected by warnings from Donald Trump.