Crisis at a glance · July 2026
Supply disrupted (peak)
14.5M
bbl/d daily shortfall · Carnegie Endowment Jul 2026
Hormuz transit decline
95%
decline since March · Carnegie Endowment Jul 2026
Brent price increase
+50%
from pre-war levels · Carnegie Jul 2026
Iraq losses
$37B
estimated · Asharq Al-Awsat Jun 2026
Seafarers at risk
20,000
in region · UN / IMO Jul 2026
IEA reserve release
400M
barrels · largest ever · March 11 2026
Chokepoints · live status
Strait of Hormuz
21M bbl/d daily transit
Ceasefire collapsed July 7. Fighting resumed. No large vessel transited after July 7 per Lloyd's List. Houthi blockade on Saudi shipping declared July 20.
Lloyd's List · Jul 7 2026
Bab el-Mandeb
9M bbl/d daily transit
Houthi naval blockade on Saudi Arabia declared July 20. Three Saudi tankers reversed course. Bab el-Mandeb crossings fell 22% in 6 days.
Reuters · Al-Monitor · Jul 22 2026
Suez Canal
2.5M bbl/d daily transit
Elevated but operational. Rerouting Saudi crude around Africa becoming necessary as both Hormuz and Bab el-Mandeb contested.
US State Dept · Jul 2026
Brent crude · price history
Brent crude · $/bbl · 2026 crisis timeline
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Saudi Arabia & Iraq
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