Disruptions across the Strait of Hormuz, the Bab al‑Mandeb Strait and the Black Sea are threatening energy supplies and driving up costs for consumers.
Navigation through the Strait of Hormuz has effectively ceased. In the same period, tankers are bypassing the critical Bab al‑Mandeb Strait, where Houthi forces in Yemen are targeting Saudi‑linked vessels. Additionally, Ukrainian strikes have damaged Russian export infrastructure. As a result, three vital corridors—the Gulf, the Red Sea and the Black Sea—are now disrupted simultaneously.
Collectively, these disruptions jeopardize trade flows representing roughly a quarter of global oil supplies at a time when inventories are already at multi‑year lows. According to Goldman Sachs, oil prices could surpass $120 a barrel by the fourth quarter if the Strait of Hormuz remains blocked alone. Economies around the world are preparing for another potential energy shock.
Published On 29 Jul 2026
