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Hormuz Tensions Impact Shipping and Oil Prices
Maritime traffic through the Strait of Hormuz is facing a sharp decline due to escalating tensions between the United States and Iran. Iran has launched attacks and threatened to expand its operations to include energy and strategic facilities. In the last 24 hours, only 15 ships have passed through, carrying a total of 1.5 million tons, which is less than 14.6% of the usual traffic that typically reaches 10.3 million tons daily. Barclays Bank warned that if this deterioration continues, it could lead to an increase in Brent crude prices by two to ten dollars per barrel over the course of 2026, with spot prices potentially reaching $150 if the crisis persists for several months. Washington is seeking to convene an international summit to protect navigation routes, while Iran holds the United States responsible for the worsening situation, and military and economic tensions in the region are escalating.
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