Some oil companies and major trading houses have suspended crude and fuel shipments through the Strait of Hormuz amid escalating US and Israeli strikes on Iran and retaliation by Tehran, Reuters reported, citing four business sources.
“Our ships will remain in place for a few days,” one senior official in the main commercial department told Reuters.
The move highlights growing concerns about the security of one of the world’s most critical energy bottlenecks.
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Mixed signals about shipping
While some tankers have stopped, sea flows have not completely stopped, Bloomberg reports, citing maritime observers.
At least three gas tankers traveling to or from Qatar have suspended voyages to avoid the waterway, the news outlet said, citing ship tracking data. Qatar accounts for about 20% of global liquefied natural gas (LNG) supplies and must transport its cargo through the strait to reach buyers in Asia and Europe.
However, automatic vessel signals indicated that at least 17 oil tankers were still passing through the waterway in both directions as of 10:30 GMT.
Tankers idle near the Gulf of Oman
Several large oil tankers are said to have stopped near the approaches to the strait.
The oil tanker Eagle Veracruz, carrying two million barrels of Iraqi and Emirati oil to China, stopped at the western approach to the strait. She was joined by Front Beauly, loaded with a similar volume of Saudi oil.
The supertanker Mitake, bound for Ras Tanura, Saudi Arabia, also slowed east of Oman after reports of a US attack, joining a growing cluster of idling vessels in the Gulf of Oman.
Why the Strait of Hormuz Matters
The Strait of Hormuz connects the Gulf to the Indian Ocean and lies between Iran and the Omani exclave of Musandam. At only 50 kilometers (30 mi) wide and no deeper than 60 meters (200 ft) in places, it is highly vulnerable to military intrusion.
According to the US Energy Information Administration (EIA), the strait is “one of the world’s most important oil choke points”.
By 2024, around 20 million barrels per day – about one fifth of global oil consumption – would pass through the strait.
About one-fifth of the world’s liquefied natural gas trade also passed through this route, mainly from Qatar.
More than 80% of oil and gas shipments through the strait go to Asian markets.
While Saudi Arabia and the United Arab Emirates have limited infrastructure to bypass the strait, their combined alternative capacity is only about 2.6 million barrels per day.
Strategic and military importance
The waterway is dotted with strategically important islands, including Iran’s Hormuz, Qeshm and Larak, as well as the disputed islands of Greater Tunb, Lesser Tunb and Abu Musa, which have been under Iranian control since 1971.
Naval operations in the Persian Gulf and strait are overseen by the Islamic Revolutionary Guard Corps, which has repeatedly threatened to close the waterway during periods of heightened tension.
The IRGC’s top naval commander reiterated the threat in January, warning of a shutdown in the event of an attack — weeks before US President Donald Trump followed through with warnings of military action linked to Iran’s nuclear program.
Implications of the global market
A growing backlog of vessels and shipment suspensions have heightened concerns about supply disruptions and a potential rise in oil and gas prices.
Although traffic continues, traders are keeping a close eye on whether Iranian retaliation or further military escalation could disrupt ports or force a wider closure of the Strait of Hormuz – a scenario that would reverberate through global energy markets.
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