The global economy faces a massive shock following Tehran's decision to block the Strait of Hormuz. This key transport route carries one-fifth of the world's oil. The decision is a direct response to attacks carried out by US and Israeli forces on targets in Iran. Commodity prices are soaring, and the OPEC+ cartel has convened an emergency summit to prevent uncontrolled panic in fuel markets.

Strait of Hormuz Blockade

Iran has officially banned commercial vessels from entering one of the world's most important waterways.

Sharp Rise in Oil Prices

Analysts forecast oil prices rising to $150 per barrel due to the supply paralysis.

OPEC+ Response

The cartel is convening an urgent meeting to discuss a radical increase in production.

Shipping Suspension

The world's largest carriers and fuel companies are suspending routes through the Persian Gulf.

The situation in the Persian Gulf has reached a critical point after Iran's Revolutionary Guard announced a complete ban on commercial shipping through the Strait of Hormuz. This information, confirmed by the EU naval mission, triggered an immediate reaction from global energy and trading companies, which are massively suspending shipments for fear of attacks or the use of sea mines. Tehran has warned vessels in the region that their continued presence on this strategic route will not be tolerated. The blockade is a result of military escalation, including US strikes on Iranian infrastructure, which has placed the oil market on the brink of its biggest crisis in decades. The Strait of Hormuz, which is only 33 kilometers wide at its narrowest point, has been the world's most important transit point for energy resources since the discovery of deposits on the Arabian Peninsula in the early 20th century. The reaction of financial markets was violent. Experts predict that the price of a barrel of oil could jump to $150 in the short term, hitting the economies of importers, including Poland and Germany. German shipowners' associations are already warning that the conflict directly impacts the safety of their merchant fleet. Meanwhile, the Polish government is monitoring the situation regarding the security of liquefied natural gas supplies arriving at the Świnoujście LNG terminal. To counteract drastic price spikes, countries in the expanded cartel OPEC+ are considering a significant increase in production, although the technical capacity to quickly replace supplies from the Gulf is limited. The 1973 Arab oil embargo demonstrated how a supply paralysis from this region can trigger a global recession and drastic changes in Western energy policy. The blockade hits China particularly hard, as it is the largest consumer of oil transported through this region. Additionally, these tensions are compounding the internal economic problems of Western nations, threatening a new wave of inflation. Investors are massively fleeing risky assets, as seen in stock market declines and simultaneous increases in the value of precious metals and currencies considered safe havens. The situation remains extremely dynamic, with each passing hour bringing reports of more logistics companies bypassing the Middle East region. „Iran's revolutionary guards tell ships passage through Strait of Hormuz 'not allowed'” — EU naval mission spokesperson

Mentioned People

  • Donald Trump — US President whose decisions to strike Iran led to the escalation of the conflict.