Middle East Conflict Threatens Global Oil Supply Chain, Market Turmoil Feared

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US-Iran Conflict: Historic Oil Supply Disruption Looms Over Strait of Hormuz

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CNBC Awaaz•05-03-2026, 07:41

US-Iran Conflict: Historic Oil Supply Disruption Looms Over Strait of Hormuz

•US-Iran conflict sparks deep concern in oil market, threatening historic supply disruption via Strait of Hormuz.
•S&P Global warns of potential largest oil supply disruption if movement through the critical Strait of Hormuz is halted.
•Daily tanker traffic through Strait of Hormuz drastically fell from 60 to 5 on March 1st, risking 15 million barrels/day supply.
•82% of crude and petroleum products, along with 18% of LNG, passing through the Strait go to Asian countries.
•A sustained 7 million barrels/day shortage could push oil prices above $100/barrel, severely impacting the global economy.

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