Fears Of Hormuz Closure Send Shockwaves Through Oil Markets

Iran, a key OPEC member, produces around 3.3 million barrels of oil per day and exports over 2 million daily, most of it through the Strait of Hormuz.

As tensions with Israel escalate, fears are mounting that this vital shipping route could be targeted or closed.

Roughly 20% of the world’s oil, about 18–19 million barrels per day, passes through the strait.

Even a temporary disruption could trigger a global supply shock and send energy prices surging.