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The closure of the Strait of Hormuz by Iran is sending shockwaves across global energy markets, with Asia expected to face the maximum pain.
A senior commander from Iran’s Revolutionary Guards said Monday that the Strait of Hormuz had been shut and warned that any vessel attempting to transit the waterway would be targeted, Iranian media reported.
Located between Oman and Iran, the Strait functions as a vital artery for global oil trade. Roughly 13 million barrels per day passed through it in 2025, representing about 31% of all seaborne crude flows, according to energy consulting firm Kpler.
A prolonged closure of the Strait would likely lead to a further surge in oil prices, with some analysts seeing oil crossing $100 per barrel. Global benchmark Brent
