Hormuz Crisis Drives Brent Crude to $96.80 Amid 77% Strait Transit Decline

The Strait of Hormuz crisis has exposed global supply chains as Brent crude holds at USD 96.80 per barrel following a 77 percent decline in daily oil transit through the strategic maritime chokepoint.

Data tracking maritime movements confirms that the channel, which previously facilitated the movement of 21.6 million barrels every 24 hours, now manages a mere 4.9 million barrels daily.

Tanker operators and maritime insurers have drastically altered risk assessments, forcing vessels to seek alternative routes or halt operations entirely, baking a war-risk premium into every barrel traded globally.