The Strait of Hormuz is one of the most strategic maritime routes in the world. It connects the Persian Gulf with the Gulf of Oman and provides access to the open ocean for major oil-producing countries in the Middle East.

Why is this trade route so important?

• More than 20% of the world´s oil consumption passes through the strait, along with nearly 35% of all seaborne oil trade.

• Around 20% of the global liquefied natural gas (LNG) trade also flows through this route, mainly exported form Gulf countries.

• It shores are primarly controlled by Iran to the north, and by the United Arab Emirates and Oman to the south.

• Energy exports from Saudi Arabia, Iraq, Kuwait, Qatar and Iran pass through this route toward major markets such as China, the United States and European Union countries .

• Whenever there are tensions or threats to block the strait, oil prices tend to rise rapidly due to potential disruptions in global energy supply.

Following Iran´s announcement of a possible closure of the strait amid tensions with the United States and Israel, oil prices surpassed $100 per barrel, with projections suggesting they could approach $200 if the route remains blocked.

Source:

30 March 2026 – What is the strait of Hormuz and Why is it Key to the global economy? – El Economista ¿Qué es el Estrecho de Ormuz y por qué es tan importante para la economía mundial? – El Economista