A critical energy corridor remains nearly frozen, while an oil spill threatens coastlines and raises fresh questions about who will pay for the damage.
Shipping through the Strait of Hormuz remains severely restricted, despite statements by U.S. President Donald Trump that the route has been reopened and that Washington has the situation under control. Tehran effectively blocked the strait after hostilities began in late February, and neither the United States nor Iran currently appears willing to make the first concession.
The prolonged blockade is having an increasingly significant impact on the global energy market. The International Energy Agency has warned that restoring tanker traffic is becoming critically necessary as countries rapidly draw down their available oil reserves. U.S. officials also expect oil and gas prices to continue rising until transit through the strait returns to normal volumes.
Why the Strait of Hormuz Matters for Oil Supplies
The Strait of Hormuz lies between Iran and Oman. It is a key maritime corridor for exporting oil from Saudi Arabia, Iraq, and Kuwait to the global market. Iran controls the strait’s northern coast.
Before the blockade, around 20 million barrels of oil were transported through the strait each day, accounting for approximately one-fifth of global daily production.
The same route carries an estimated one-fifth of the world’s liquefied natural gas volumes.
According to the U.S. Energy Information Administration, the ability to redirect oil flows via alternative routes would be extremely limited if the strait remained closed for an extended period.
Reduced shipments are already adding pressure to the energy market. Countries dependent on supplies through the Persian Gulf are being forced to use their reserves, while the prolonged absence of stable transit could trigger another wave of rising fuel and gas prices.
Oil Spill in the Persian Gulf
The environmental situation is also worsening amid the blockade. Iranian Foreign Ministry spokesperson Esmaeil Baqaei said that Tehran is demanding compensation for pollution in the waters of the Persian Gulf and surrounding areas. A large oil slick was recorded off the coast of Iran’s Qeshm Island, near the Strait of Hormuz.
Who bears responsibility for compensating these damages? Is it the countries that consume cheap energy exported from our region, shipping insurance companies, or the aggressors and their partners who have turned the Persian Gulf and the Sea of Oman into a theater of military operations and tests of extremely destructive weapons?
– Esmaeil Baqaei
Russian Oil Spill off the Coast of Oman
In Oman, oil from the sanctioned tanker Caroline Bezengi, which was carrying Russian oil, reached the beaches of Ras Madrakah in the country’s southeast. The vessel, carrying approximately 800,000 barrels of Russian oil, ran aground on June 30.
Omani authorities deployed specialized teams to contain the spill. The oil slick has already affected up to 40 km of coastline and may spread to the southern beaches of Masirah Island, an important nesting site for sea turtles.
Thus, restrictions on traffic through the Strait of Hormuz pose not only risks to global oil and gas supplies but also increase the threat of large-scale marine pollution in the region.