Commercial shipping through the Strait of Hormuz fell 19% last week, with the average daily passage dropping from 120 vessels before the conflict to just 25. Sea freight rates have fallen, but remain roughly twice the pre‑conflict level.
Damage to refineries has limited fuel supply, pushing margins higher for refineries and petrochemical companies. Global crude oil reserves continue to decline.
These developments are tightening supply in energy markets and raising concerns about future fuel availability.