The Strait of Hormuz remains nearly closed, straining global oil supply
The Strait of Hormuz, the world's most important oil chokepoint, remains nearly closed as of June 21, keeping pressure on global energy prices. Iran and the United States signed a deal on June 17 to reopen it, but shipping traffic is still a fraction of pre-war levels, with hundr
The Strait of Hormuz, the narrow waterway between Iran and Oman, remains nearly closed to commercial shipping as of June 21, 2026. According to the US Energy Information Administration, about 20 million barrels of oil normally cross it each day, close to a fifth of global petroleum consumption, along with a similar share of the world's liquefied natural gas trade. After traffic was halted this spring, energy agencies described it as the largest oil supply disruption on record. Iran and the United States signed an agreement on June 17 to end the war and reopen the strait, and some tankers have since begun crossing again without coming under fire. But traffic remains a fraction of pre-war levels, hundreds of vessels are reported waiting to leave the Gulf, and ship operators say they are still concerned about crew safety. Few alternative pipelines exist, and they cannot carry the same daily volumes. Sources: EIA, IEA, Al Jazeera, CNBC.