Strait of Hormuz Disruption Fuels Global Oil Market Instability Amid US-Iran Tensions

Washington D.C. The Strait of Hormuz has been effectively blockaded for nearly four weeks since the joint attack by the United States and Israel on Iran, causing significant volatility in the global oil market. As approximately 20 percent of the world's oil and natural gas passes through this route, its disruption has deepened the energy crisis.

The Strait of Hormuz is the main artery for supplies heading to the global market from the Gulf region. Essential materials for fuel and fertilizer production are also supplied through this route. The near-stoppage of this passage has raised concerns about impacts not only on energy but also on food security. Meanwhile, US President Donald Trump has stated that diplomatic efforts are underway to resolve the crisis. Furthermore, the US is considering options such as deploying additional troops to the Middle East and providing naval protection to oil tankers.

However, despite these efforts, Iran still appears to be in a strong position. The main reason for this is the unconventional warfare strategy adopted by Iran. In this conflict with the US and Israel, Iran is employing methods such as inexpensive drones and sea mines. Such technologies possess the capability to challenge even major military powers.

On the other hand, Iran's geographical location also benefits it. Being close to the Strait, it can easily influence the movement of ships, making it difficult for other nations to ensure complete military security. Moreover, this situation appears economically advantageous for Iran. According to some reports, Iran is collecting fees from some tankers wishing to cross the Strait under the guise of safe passage. According to data published by Lloyd's List Intelligence on March 23, at least two ships paid a large sum to cross the route.