Ambrey: Shipping firms hit by crypto scam emails for Strait of Hormuz transit

The Strait of Hormuz, a key chokepoint linking the Persian Gulf to global markets, has faced severe disruption in 2026 amid escalating Iran–US tensions. According to the International Energy Agency (IEA), restrictions and intermittent closures have affected flows linked to roughly 14 million barrels per day (bpd) of crude oil exports, or about 20% of global supply (IEA).

Maritime tracking indicates tanker traffic has at times fallen by up to 90% compared with normal levels, with navigation subject to inspections, military enforcement, and temporary shutdowns.

Market impacts have been immediate. Brent crude briefly surged above $120 per barrel in March 2026, before stabilising in the $100–110 range as uncertainty persisted.

Analysts at Barclays estimate a prolonged closure could remove 13–14 million bpd from global markets, while even short disruptions have forced Gulf producers such as Iraq and Kuwait to consider cuts totalling around 3.3 million bpd due to export constraints.