The Strait of Hormuz, vital for global oil and gas transportation, has seen a significant drop in activity since the commencement of hostilities on February 28, when the US and Israel launched airstrikes against Iran. In response, Iran has retaliated against US allies in the region and imposed restrictions on access to the strait, leading to alarming disruptions in maritime traffic. The conflict has escalated tensions in the Gulf, which has profound implications for international trade and energy security.

As of March 1, 2026, maritime security agency UKMTO has reported 24 incidents involving commercial vessels, including 11 oil tankers that have been attacked or have reported security concerns in Hormuz and Oman. Additionally, four unconfirmed attacks claimed by the Iranian Revolutionary Guard add to the growing list of threats in the region. This increasing volatility raises the stakes for shipping companies operating in these waters, putting lives and cargo at risk as the conflict continues.

The consequences of the blockade are severe, with estimates suggesting a staggering 95% decrease in maritime movement through the strait. As eight sailors have already lost their lives since the conflict began, the situation is raising alarms about the broader impacts on global oil supply. The ongoing unrest emphasizes the strategic importance of the Strait of Hormuz and the potential for this conflict to affect international oil prices and economic stability if not resolved soon.