It has been more than two months since the Strait of Hormuz was almost completely closed to navigation. Neither the threats nor the attempts to negotiate by the Americans did anything, nor did the offers of assistance to the ships blocked in the passage. This is one of the biggest energy shocks in history, with no resolution in sight. Here are its consequences in detail.
Oil tankers transiting the Strait of Hormuz, per week
Before the war, the Strait of Hormuz saw approximately 1,500 oil ships pass through each month. They are only passing by in dribs and drabs: in April, it is estimated that there were only 180. This is the equivalent of 12% of global consumption which is missing, according to our estimates. For each additional month of closure of the strait, 2% of the annual consumption of liquefied natural gas is missing.
Strait of Hormuz, crude oil exports by destination, million barrels per day (2025)
Around 85% of the oil and 90% of the gas that normally passes through the Strait is destined for Asia. After the closure of Hormuz, oil prices jumped – by more than 70%, even, in certain countries. A particularly violent shock where reserves are low, such as in Pakistan or the Philippines.
LPG imports in million tonnes (2025)
Cooking with liquefied petroleum gas is very widespread in many Asian countries, but a large part of this LPG is imported via the Strait of Hormuz. In India, where this share reaches 90%, the fear of a shortage has translated into a purchasing fever. Deprived of this fuel, some restaurants had to close.
Origin of naphtha imports in selected Asian economies (2025)
Plastics have seen their prices soar along with that of crude oil, from which they are generally derived. Other materials used in their composition, notably refining products such as naphtha, also come from the Middle East. Several plastic manufacturers in Asia, considering themselves faced with a case of force majeure, have freed themselves from certain contractual obligations.
[…] Read more on International Mail
