economy

March 5, 2026

FACTBOX: What is known about tankers’ situation after closure of the Strait of Hormuz

Ten oil tankers attempting to pass the strait have already been struck by missiles and drones

FACTBOX: What is known about tankers’ situation after closure of the Strait of Hormuz

TL;DR

  • The Iranian Navy claims complete control of the Strait of Hormuz.
  • Ten oil tankers have reportedly been struck by missiles and drones while attempting to pass through the strait.
  • Several thousand tankers and bulk carriers are waiting to transit the Strait of Hormuz.
  • Concerns exist about oil prices potentially reaching $200 per barrel.
  • The International Energy Agency (IEA) is reportedly ready to stabilize the global oil market.
  • Japan is developing emergency measures due to reliance on Middle Eastern oil and LNG imports.
  • India has approximately 25 days' worth of oil reserves and sufficient fuel reserves for another 25 days.
  • Russia has seen increased demand for its oil from India.
  • Kazakhstan does not expect disruptions due to its limited use of Persian Gulf ports.

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