Escalating disruptions across the Strait of Hormuz corridor have triggered what the International Energy Agency calls the largest supply disruption in the history of the global oil market, with crude and refined product flows that typically total around 20 million barrels per day now reduced to a near standstill. Gulf producers have already shut in at least 10 million barrels per day as limited bypass capacity forces production cuts and deepens market tightness.

Conflict‑related disruptions across the Middle East have severely disrupted flows through the Strait of Hormuz, which normally carries about one‑fifth of global seaborne oil and a sizeable share of LNG trade, adding pressure across fuels and amplifying global inflation concerns.

Oil markets have reacted with extreme volatility. Brent crude prices have surged more than 50% over the past month as traders price in elevated geopolitical risk and prolonged supply tightness (PBS.org).

Read More: IEA Oil Market Report