The U.S. blockade of the Strait of Hormuz, initiated on April 13, has halted all maritime traffic through the critical waterway, effectively stranding hundreds of vessels, including 400 oil and gas tankers. This decisive move comes as peace talks between the U.S. and Iran collapsed over the weekend, prompting President Donald Trump to assert U.S. control over the strait, which facilitates the transit of roughly 20% of the world’s oil and liquefied natural gas.
Claire Jungman, director of maritime risk and intelligence for Vortexa, confirmed that no tanker transits have occurred since the blockade began, citing the abrupt turnaround of the Iranian crude-laden tanker Rich Starry as a key example. The blockade has reduced traffic to zero, contrary to Iran’s earlier financial tolling system, which allowed limited passage. This has driven oil prices back above $100 per barrel, further intensifying global economic pressure.
‘Who’s going to have the guts to go through first?’ — Dan Pickering, Pickering Energy Partners
Dan Pickering, founder of Pickering Energy Partners, noted the escalating tensions, stating, ‘We now have two governments both claiming they control the right to enter and exit the strait.’ He added that Trump appears willing to accept $100-per-barrel oil as part of this economic warfare, though the potential for violence remains uncertain.
The U.S. Central Command has deployed warships to enforce the blockade, permitting vessels from non-Iranian ports to transit if they haven’t paid Iran’s tolls. However, fear of Iranian retaliation has left many ships hesitant to proceed. Trump has warned that any Iranian high-speed attack boats approaching the blockade will be ‘immediately ELIMINATED,’ though the U.S. stance on Chinese tankers carrying Iranian oil remains unclear.
Meanwhile, French President Emmanuel Macron is collaborating with the United Kingdom to organize a conference aimed at restoring ‘freedom of navigation in the strait.’ This effort, described as a strictly defensive mission, seeks to resolve the crisis without escalating hostilities. Workers aboard stranded vessels are relying on rationed supplies and assistance from Gulf states, while nations worldwide face severe shortages of fuel, natural gas, and other critical resources.
Pickering predicts demand destruction of 5 million barrels per day if the blockade persists, citing increasing shortages and conservation measures in Asia. Despite efforts by Saudi Arabia and the UAE to reroute oil supplies, global energy markets remain strained, with no immediate resolution in sight.