2026-03-05 00:55:15

🚨 The Strait of Hormuz enters a serious crisis

📌 Main developments around the Strait of Hormuz
- The Iranian Revolutionary Guard (IRGC) announced that the Strait of Hormuz has been closed.
- In just 24 hours, 5 commercial ships have been hit by missiles/UAVs in the Gulf of Oman and UAE waters.
- One oil tanker was struck, the engine room caught fire, and one crew member was killed.
📌 Oil transportation paralyzed
- War insurance has been canceled, becoming a decisive factor in whether ships dare to pass through Hormuz.
- The cost of chartering VLCCs (super oil tankers) in the Middle East has reached record highs as the conflict escalates.
📌 Energy infrastructure is immediately affected
- The Ras Tanura (Saudi Arabia) refinery temporarily halts operations.
- Qatar temporarily halts gas exports.
- According to OECD, countries currently have about 62 days of energy reserves.
-> Traffic flow through Hormuz is now almost zero.
📌 Energy prices react immediately, European gas +30%, after already increasing +40% yesterday. Crude oil +5.6% as the market begins pricing in supply disruption risks.
-> Trump is considering supporting insurance for oil tankers passing through Hormuz. China calls for reopening the shipping route, as most of the 13.1 million barrels/day pass through Hormuz heading to China. The issue lies in transportation, not oil production. If the war ends early, energy prices could cool down quickly.

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