Hormuz Crude Flows Plunge 30% as Iran Conflict Reshapes Global Oil Routes

Key Details Crude oil and fuel throughput via the Strait of Hormuz dropped nearly 6 million barrels daily in Q1 2026, falling from 20.4 million barrels per day a year prior to just 14.6 million, according to EIA data released May 13. This represents a dramatic 29% decline since the onset of conflict in Iran effectively closed the critical chokepoint that handles roughly 25% of world seaborne oil. Impact on Fuel Prices The supply disruption is hitting your wallet hard. Brent crude futures have surged more than 45% since the conflict began, while U.S. gasoline prices have climbed above $4.50 per gallon, approaching 2022 highs. Wholesale inflation is accelerating too, with the U.S. producer price index rising 6% year-over-year in April, the largest monthly increase since 2022. Why It Matters Shippers are adapting by routing more cargo through alternative passages like the Panama Canal and Bab El-Mandeb Strait, but these workarounds add time and cost to your deliveries. The EIA's new Global Energy Security Dataset signals how geopolitical disruptions will continue reshaping energy markets and transportation routes, making fuel cost management critical for fleet operations going forward.