Gulf oil producers have lost an estimated $15.1bn in energy revenues since the start of US and Israeli strikes on Iran, with millions of barrels of crude trapped by the near-shutdown of the Strait of Hormuz.
According to estimates by commodities analytics firm Kpler, the strait typically carries about $1.2bn worth of crude oil, refined products and liquefied natural gas each day, based on average prices and volumes in 2025.
Since the conflict escalated on February 28, traffic through the critical shipping route has largely stopped, with Iran attacking vessels and insurance premiums soaring.
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