Key Metrics
13.63
Heat Index-
Impact LevelMedium
-
Scope LevelGlobal
-
Last Update2026-04-29
Key Impacts
Positive Impacts (9)
Negative Impacts (9)
Event Overview
The disruption in shipping through the Strait of Hormuz has led to a significant decrease in traffic, impacting global commodity prices. The event highlights the vulnerability of international trade routes and their influence on food and energy markets, prompting the UN to monitor the situation closely.
Collect Records
Hormuz Strait Shipping Traffic Drops, Global Food and Oil Prices Rise
Since February 28, the shipping traffic through the Strait of Hormuz has decreased by 95.3%. During the same period, global bulk food prices have increased by 6%, and European crude oil prices have surged by 53%. In response to this crisis, the United Nations Conference on Trade and Development (UNCTAD) has launched an online tracking dashboard to monitor the impact of the strait's situation on shipping, food and energy prices, and financial markets.
Hormuz Strait Expected to Resume Normal Traffic in Two Months
Kevin Hassett, the Director of the National Economic Council at the White House, stated that the Strait of Hormuz is expected to resume normal traffic within the next two months. Currently, the traffic through the strait is only 10% of its usual level. The U.S. has sent a team to Pakistan to negotiate with Iran and has prepared alternative plans. Hassett also predicted that once the strait resumes normal operations, energy prices will quickly decrease.