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Oil Shipments Through the Strait of Hormuz Over the Past Decade, Now Closed by Iran

Akbar Ridwan 02/03/2026 11:18 WIB

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As is well known, the Strait of Hormuz is a narrow and strategic strait located between the Persian Gulf and the Gulf of Oman.

Volume of Oil Shipments Through the Strait of Hormuz (2014-2024)

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Volume of Oil Shipments Through the Strait of Hormuz (2014-2024)

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The Islamic Revolutionary Guard Corps (IRGC) of Iran closed the Strait of Hormuz amidst the escalating conflict between Iran and the United States (US) and Israel.

In the Israeli-US attack, Iran's Supreme Leader, Ayatollah Ali Khamenei, died on Saturday (28/2/2026).

"The closure of the Strait of Hormuz by IRGC forces is currently being carried out following the attack on Iran," said IRGC Brigadier General Ibrahim Jabari to Lebanese media Al-Mayadeen, as reported by Katadata.co.id.

The Strait of Hormuz is a narrow and strategic strait located between the Persian Gulf and the Gulf of Oman.

This strait serves as an important route for global oil and liquefied natural gas exports, with Asian markets being a major destination for oil flows from the Strait of Hormuz.

In 2024, Statista data revealed that approximately 20.3 million barrels of oil were shipped through the strait every day.

During the 2014-2024 period, the daily oil shipments through the strait ranged from 17.2 million barrels to 21.4 million barrels.

"One-fifth of global oil supplies flow through this route, and there is no viable alternative for transporting oil from this region," explained Statista.

Regarding the closure of the Strait of Hormuz, energy analysts at Barclays in the UK predicted that the price of Brent oil could exceed US$100 per barrel. In Friday's trading (27/2/2026), the spot price of Brent oil closed at US$73 per barrel.

"The oil trading market may face its biggest fears on Monday (when the market reopens)," said Barclays analysts, as quoted by Reuters.

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Oil Shipments Through the Strait of Hormuz Over the Past Decade, Now Closed by Iran

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Oil Shipments Through the Strait of Hormuz Over the Past Decade, Now Closed by Iran

Tags

Related Data

If the Strait of Hormuz Closes, Global Oil Supply Will Be Disrupted

The Closure of the Strait of Hormuz Could Disrupt Oil Supplies from Saudi Arabia

Hormuz Strait Oil Supply Impacts Asia, Primarily China

Ministry of Environment and Forestry Detects 474 Hotspots in Indonesia, Most in West Kalimantan (Monday, March 2, 2026)

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