Hormuz Disruptions Cost Gulf States About $15.1B in Revenue, Global Energy Markets Shift

Gulf oil-producing nations have missed out on about $15.1 billion in energy revenue since the onset of the Iran-related conflict, a Financial Times report citing data from commodities analytics firm Kpler. The figure is equivalent to roughly 22.6 trillion won.

The FT article notes that shipments through the Strait of Hormuz have been virtually halted since the 28th of last month, with 71% of the stalled cargoes identified as crude oil. The disruption appears concentrated in shipments moving through the Hormuz route.

In addition to crude oil, the report says at least $10.7 billion worth of crude and refined products, as well as liquefied natural gas cargoes, remain tied up in Hormuz-related bottlenecks.

By country, Saudi Arabia faced the largest impact, suffering about $4.5 billion in losses since the start of the conflict. Other Gulf producers also reported reduced energy sales tied to shipments blocked or delayed in the Hormuz corridor.

The Strait of Hormuz is a critical chokepoint for global energy trade, through which a substantial share of the world’s crude oil and LNG passes. Disruptions there can influence global prices, shipping insurance costs, and the risk calculus of energy buyers and policymakers.

For the United States and other energy-consuming economies, the developments matter because even temporary constraints on Gulf energy shipments can ripple through markets, affecting prices at the pump, energy security considerations, and supply-chain resilience.

The figures cited are estimates compiled by FT from Kpler data and reflect a period in which oil and gas shipments faced notable routing and timing challenges. The situation illustrates how regional conflicts can have outsized effects on global energy flows.