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4w ago

Strait of Hormuz Still Largely Closed, Pressuring Global Oil Supplies

Depleted emergency stocks and heavy damage to Gulf energy sites raise the risk of prolonged price shocks.

Eine Tankstelle in den USA (Symbolfoto). Um die Tankpreise niedrig zu halten, haben die USA eine Reserve angezapft.
Image
Eine Meerenge als Waffe: Die Straße von Hormus zeigt, wie sehr die Welt von der Golfregion abhängig ist

Overview

  • The Strait of Hormuz is carrying only a fraction of its normal ship traffic because repeated attacks have left the corridor insecure.
  • Under IEA coordination countries released more than 400 million barrels and the United States has drawn its Strategic Petroleum Reserve down to about 357 million barrels by early June to calm markets.
  • Gulf energy infrastructure suffered wide damage with repair costs estimated at €21.7–€50.3 billion and Qatar’s Ras Laffan LNG complex expected to take three to five years to fully restore.
  • War-risk insurance for Hormuz transits has surged and shipowners say they will need 30–45 days of safe passages plus naval security before crews return to routine Gulf routes.
  • Analysts warn that falling commercial stocks and physical limits on refilling the SPR could allow much higher fuel and fertilizer prices and raise the risk of global economic strain if supply shortfalls continue.