Strait of Hormuz Blockade: Only 84 Tankers Crossed in March, Oil Prices Soar

• Only 84 tankers crossed the Strait of Hormuz in March due to Iran's blockade, a significant drop from the pre-war daily average of 130.
• The closure has cut off 20-25% of the world's oil and gas supply, causing Brent crude to spike from $72 to $119 a barrel.
• US President Donald Trump is under pressure over the continued closure, which has led to rising fuel costs and inflation fears in the US.
• Trump signaled he might end the war and leave other nations to secure their supplies through the Strait, stating the US would not be involved.
• Energy consultancy FGE warns oil could surge to $150-$200 a barrel if the Strait remains closed for another 6-8 weeks.