From tankers to gas tanks — Hormuz tensions rattle global energy markets in Oil & Companies News 30/04/2026 As Tuesday marked two months since the United States and Israel launched joint military strikes against Iran, repeated disruptions to shipping through the Strait of Hormuz have turned the waterway into an “economic clock of war.” Analysts warned that even brief interruptions of passage ripple through global markets and that prolonged instability risks evolving into a broader inflation and growth crisis. Roughly 20 percent of global oil and liquefied natural gas passes through this narrow corridor linking the Gulf to global markets, making it one of the world’s most critical energy chokepoints. Shocks of this magnitude propagate rapidly through trade, finance and consumption, ultimately affecting household budgets across economies worldwide. LARGEST OIL SUPPLY DISRUPTION Amid escalating geopolitical tensions, flows through the Strait of Hormuz have become increasingly volatile. Data from shipping analytics firms show that prior to the escalation, an average of 45-50 oil tankers transited the strait each day. In the weeks since, that number has dropped by more than half, with fewer than 20 vessels transiting daily, and at times of heightened tension, falling to near zero as shipping temporarily halted. Russell Hardy, CEO of Vitol, the world’s largest independent oil trader, warned that the market will lose at least 1 billion barrels of crude and refined products due to the crisis. He noted that sustained attacks on Gulf energy infrastructure and repeated closures of the strait have already removed some 12 million barrels per day of production since late February. Analysts expected the global oil market to shift from an expected surplus into a deficit of about 750,000 barrels per day in 2026. Fatih Birol, executive director of the International Energy Agency (IEA), said the war in the Middle East “is creating a major energy crisis, including the largest supply disruption in the history of the global oil market,” warning that without a swift resolution, impacts will intensify. In response, the IEA has coordinated an emergency release of around 400 million barrels from strategic reserves in March, the largest ever, to stabilize markets. Brent crude, the international benchmark, rose 63 percent in March, surpassing the 46 percent monthly gain recorded in September 1990 during the first Gulf War. Analysts estimate sustained instability could keep Brent crude between 100 and 190 U.S. dollars per barrel, with an average above 130. Meanwhile, the shock is reshaping global flows. The London-headquartered maritime analytics firm Windward noted that crude shipments are increasingly rerouting toward the Gulf of Mexico, positioning the United States as a key export anchor amid Hormuz disruptions. U.S. producers could benefit from higher prices, even as import-dependent economies bear the costs, analysts were quoted by Al Jazeera as saying. CONFLICT TAX” If the first layer of impact unfolds in supply, the second is felt in daily life. Reports point to a widening “conflict tax.” The International Monetary Fund (IMF) identified energy as the main transmission channel, noting that for fuel-importing economies, rising prices act like a sudden tax on income. Recent data showed these pressures are increasingly visible at the fuel pump. In the United States, gasoline prices rose by more than 24 percent in March alone, contributing significantly to a sur