50 resultsfor “impact of Hormuz crisis on oil supply”
crisis having ‘enormous impact’ in Asia Pacific The global oil supply squeeze from [shipping disruptions](/news/2026/5/3/trump-says-us-will-help-free-up-ships-stuck-in-hormuz-strait) in the Strait of Hormuz
impact of the conflict’s effects on oil, alongside the effects of Russia’s war with Ukraine on gas supplies, was “[the biggest crisis in history](https://www.reuters.com/business/energy/war-iran-is-causing-biggest-energy-crisis-history-iea-says-2026-04-21/)” in global energy markets
crisis. Oil prices have climbed due to the war on Iran, which started on February 28. A barrel of Brent crude, the international benchmark, was worth $72.87 on February 27. As of Monday, a barrel
supply chain. The closure of the Strait of Hormuz, a key shipping channel through which 20% of the world's oil and liquid natural gas usually passes, has sent oil prices soaring since the conflict
crisis highlights meagre oil buffers in developing world As the [blockade of the Strait of Hormuz](/news/2026/4/14/fao-warns-strait-of-hormuz-disruption-risks-triggering-a-global-food-crisis) drives the worst energy crunch in modern history, leading governments to scramble to unload their emergency oil stockpiles
impact on millions of people a long way from the war zone. The fertiliser crisis risks causing hunger in countries that do not have secure food supplies. President Donald Trump's motives, declared and undeclared
crisis driven by the [Iran war](/news/liveblog/2026/5/15/iran-war-live-trumps-visit-to-china-shadowed-by-conflict-with-tehran) and [closure of the Strait of Hormuz](/opinions/2026/3/27/the-strait-of-hormuz-is-not-just-an-oil-chokepoint) starts to bite on the economy. The government in New Delhi announced the 3 rupees ($0.03) per litre price hike
Hormuz has effectively been shut since early March. The International Energy Agency called it the largest supply disruption in the history of the global oil market. Oil prices have spiked, gas prices are climbing
crisis triggered by the US-Israel war on Iran, which began on February 28. Tehran responded by hitting back at Israel, US military assets and other infrastructure in Gulf countries. It also closed off most
supplies goes on, the more difficult the scenario we’re in.” Brent crude, the global oil price benchmark, [fell below $100 a barrel](https://www.theguardian.com/business/live/2026/may/06/oil-prices-retreat-global-stocks-hit-record-highs-trump-great-progress-iran-deal-live-updates?CMP=share_btn_url&page=with%3Ablock-69fb1e388f08d59811001e4f#block-69fb1e388f08d59811001e4f) due to fresh hopes that US efforts to reopen
crisis has exposed just how vulnerable the industry in the UK - Europe's biggest consumer of jet fuel - is to disruption in the Middle East. So what impact might that have on our summer holidays
supply would be as big as the fallout from [the 1970s oil crisis](https://www.bbc.co.uk/news/articles/c78lj4976lvo), when Arab oil producers placed an embargo on the US and other countries which backed Israel during
supply issues – particularly of oil from the Gulf region, which has largely stopped since the US and Iran blockaded the Strait of Hormuz. And, in Lebanon, which had already been suffering from an economic crisis
impact from the Iran conflict and “short-term adjustments to travel plans”, the airport said. However, the number of transfer passengers transiting for onward flights rose 10% in April year-on-year, as travellers rerouting
crisis triggered by the closure of the [Strait of Hormuz](/news/2026/5/9/on-level-of-atomic-bomb-iran-highlights-hormuz-importance-amid-us-talks) during the US-Israel war on Iran. Since early March, Iran has restricted shipping through the strait, a narrow waterway linking Gulf oil producers
Hormuz, a key artery for oil and gas, has been closed in effect since the beginning of March, causing an energy crisis in many countries and leading European states to fear jet fuel shortages. [According
Hormuz, have done little to assuage fears about ongoing supplies of oil, fuel and fertiliser. [Sign up for the Breaking News Australia email](https://www.theguardian.com/email-newsletters?CMP=copyembed&CMP=emailbutton) It’s why the fire at Geelong’s Viva
Hormuz for traffic, disrupting global fuel supplies and raising oil prices. “All manufacturing units in Morbi rely on propane and natural gas to fire kilns at high temperatures. While propane is supplied by private companies
Hormuz has already sent oil and gas prices soaring, caused a [crisis in the global fertiliser industry](https://www.theguardian.com/world/2026/apr/03/visual-guide-gulf-fertiliser-blockade), and has made shipping and distribution more expensive. The effects have so far been felt
crisis are the 24-mile Strait of Hormuz south of Iran and 7,000 miles away in the White House. This week was the unique opportunity for the rest of the world to make