New Delhi

Traffic through the strategic Strait of Hormuz has dropped sharply since early March, severely impacting global energy supply chains, according to S&P Global Energy.

Fewer than 10 vessels are now crossing the vital chokepoint daily—down from an average of 135 in February—amid ongoing tensions in West Asia.

The strait, which typically handles about 14.1 million barrels per day of crude oil and 5.4 million barrels of refined products, is facing significant congestion. Around 850 oil tankers are currently clustered in the region, with daily transits falling to just two to three vessels compared to the usual 60.

The disruption has also hit crude loadings, with Middle East Gulf shipments averaging 7.4 million barrels per day in March so far—less than half of late February levels. An estimated 125 million barrels of crude oil remain stranded, awaiting clearance to pass through the route.

The situation carries major implications for India, which depends heavily on the strait. Nearly 90 per cent of India’s LPG imports and about 42 per cent of its crude oil imports pass through this corridor.

However, analysts noted that India has been increasing purchases of Russian crude, potentially reducing its reliance on Hormuz-linked supplies.

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S&P Global Energy described the disruption as a “seismic shock” for marine transport and upstream sectors. While a ceasefire has reportedly been reached in the region, experts cautioned that full normalisation of shipping flows could take several months.