Capitals, March 14 (SANA) – The economic impact of the ongoing U.S.–Israeli–Iranian conflict is increasingly spilling into global energy markets, raising concerns about oil supply disruptions, maritime security and rising fuel prices.
Strait of Hormuz at the center of tensions
Now in its third week, the war has placed the Strait of Hormuz — one of the world’s most vital energy corridors — at the center of market anxiety. Estimates cited by The Wall Street Journal suggest that about 20–25 percent of global seaborne oil trade, roughly 20 million barrels per day, normally passes through the narrow waterway. Escalating tensions and attacks in the region have heightened fears that shipping through the strait could face prolonged disruption.
Energy infrastructure under pressure
Energy infrastructure has already been affected. Bloomberg reported that oil loading operations at Fujairah Port in the United Arab Emirates were temporarily halted after a drone strike triggered a fire, highlighting the vulnerability of facilities once considered safer alternatives to Gulf shipping routes.
Global oil markets have reacted sharply. According to The New York Times, U.S. gasoline prices have risen by about 20 percent since the conflict began on February 28, while crude prices have climbed to levels not seen since 2022. Rising insurance costs for tankers operating in the region and disruptions to shipping traffic have added further pressure to already volatile markets.
Strategic reserves released
In response, the U.S. Department of Energy said the United States has begun releasing oil from its Strategic Petroleum Reserve, with an initial 86 million barrels planned as part of a broader 172-million-barrel release. Members of the International Energy Agency have also announced a coordinated release of up to 400 million barrels from emergency reserves to stabilize global supplies.
Shipping disruptions and supply chain strain
The conflict is also disrupting maritime logistics. Reports from The Wall Street Journal indicate congestion at Indian Ocean ports, rising shipping costs between Asia and the Middle East, and fuel shortages at some regional hubs. More than 100 vessels are reportedly stranded in the Arabian Gulf amid growing uncertainty for commercial shipping.
Despite some signals that limited tanker traffic may resume through the Strait of Hormuz under strict conditions, analysts warn the conflict could continue to strain global energy markets and supply chains in the weeks ahead.
Kh.A
