“We will attack any ship that attempts to cross it,” — Iranian military officials stated. IRGC Brig. Gen. Ebrahim Jabbari: “We will not allow a single drop of oil to leave the region.”
In 2024, the average daily volume of oil and petroleum products transiting through the Strait of Hormuz was approximately 20 million barrels per day. This corresponds to roughly 20% of global oil and petroleum products consumption.
Oil prices reacted with a sharp rise of about $2 per barrel, reaching nearly $80 per barrel for Brent crude.