Iran’s control over the Strait of Hormuz has sent shockwaves through the global economy, driving up fuel costs and creating ripple effects that extend well beyond the Middle East region. The situation has also trapped thousands of sailors and numerous vessels in the Persian Gulf waters.
Following attacks by the United States and Israel on February 28, Iran gained effective control over this crucial shipping lane. Despite weeks of intensive bombing campaigns and a U.S. naval blockade implemented last month, Iran maintains its hold on the waterway. Iranian officials have stated they will only allow the strait to reopen when hostilities cease and the blockade ends. President Donald Trump is demanding broader concessions, including Iran’s withdrawal from its controversial nuclear program.
The strategic waterway measures just 21 miles across at its most narrow section between Iran and Oman, where it curves like an elbow. Vessels must navigate through tight shipping channels in shallow waters, creating an even more restrictive bottleneck.
Prior to the conflict, approximately 20% of globally traded oil passed through the Strait of Hormuz daily, along with substantial quantities of natural gas, fertilizer, and other petroleum-based products.
Research data from Lloyd’s List Intelligence shows that roughly 130 ships transited the strait each day before fighting began, including both oil tankers and cargo vessels.
Since hostilities commenced through May 4, Lloyd’s List Intelligence reports that only 450 ships are believed to have successfully passed through the waterway. Many of these vessels likely carried Iranian oil. Under normal circumstances, between 6,500 and 8,450 ships would have traveled through the strait during this timeframe.
American gasoline prices have climbed by $1.20 per gallon on average since the war started. According to AAA, the average gallon price reached $4.56 on Thursday. The strait’s closure has also caused jet fuel costs to nearly double.
Shipping insurance costs have dramatically increased from 1% of cargo value to as high as 10%, according to maritime industry experts.
The United Nations World Food Program warns that 280 million people, primarily in Asian and African nations, could face hunger if the strait remains closed. The organization states that blocked fuel and fertilizer shipments may soon make food and essential goods unaffordable for vulnerable populations.
The U.N.’s International Maritime Organization reports that 47 mariners have died since the Iran conflict began.
According to the International Maritime Organization, 89 ships have been attacked during the hostilities.
U.S. military sources indicate that 387 vessels from 87 different nations are currently trapped in Persian Gulf waters.
Approximately 23,000 sailors remain stranded aboard these ships, with many crew members coming from South and Southeast Asian countries.
The U.S. military has deployed 5,000 American troops along with 100 aircraft to support Project Freedom, President Trump’s initiative to escort ships through the strait. However, the operation was suspended on Tuesday, just two days after its announcement.
As part of Project Freedom, the United States reported successfully guiding 12 ships through the waterway before the program’s suspension.
