Hormuz Blockade Strands Ships, Fuels Energy Price Surge

The effective closure of the Strait of Hormuz since February 28, 2026 , has upended key global shipping lanes and tightened energy supply routes, according to officials and industry specialists. Iran’s partial blockade began as retaliation for U.S.-Israeli strikes, the source material said, and it has interrupted a major corridor for seaborne trade. Experts cited in the source warned that the disruption is likely to persist even after the waterway reopens.

Officials and maritime data providers said the stoppage has affected roughly 20 percent of the world’s crude oil and liquefied natural gas (LNG) supplies , contributing to higher global energy prices. The International Maritime Organization (IMO) and maritime intelligence firm Windward reported that about 2,000 ships are stuck in the region. That total includes roughly 400 vessels positioned in the Gulf of Oman and waiting for passage, according to the same sources.

With the strait effectively shut, shipping operators have been forced to reroute cargoes, extending voyages and complicating schedules. The source material said diversions around the Cape of Good Hope or via the Suez Canal have lengthened transit times. Those longer routes can tie up vessels for additional days or weeks, reducing effective fleet capacity and adding pressure to freight planning for energy, industrial inputs, and consumer goods.

Energy infrastructure damage is compounding the logistics shock. The source material said more than 40 energy assets in the Middle East have suffered severe damage, affecting production and prompting force majeure declarations by companies including QatarEnergy and Kuwait Petroleum Company . The combination of impaired output and constrained shipping access has tightened the flow of oil and gas to global buyers, with knock-on effects for import-dependent economies.

Industry figures said the recovery will not be immediate even if maritime access improves. Shipping and trade specialists, including Nils Haupt of Hapag-Lloyd and Svein Ringbakken of the Norwegian Shipowners’ Mutual War Risks Association , estimated it could take months to work through the accumulated queue of oil, gas, and other cargo.

The source material added that damage to production sites and port infrastructure, alongside limited storage capacity, is likely to create additional bottlenecks and operational inefficiencies.

Security risks have also escalated. The IMO confirmed at least 18 attacks on vessels in the Gulf , which the source described as a fundamental shift in the risk environment for shippers. Reflecting those concerns, insurance costs have surged, with hull and cargo premiums rising by as much as 300 percent , according to the source material.