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Data from the U.S. Energy Information Administration revealed that roughly 14.6 million barrels per day of crude oil and petroleum liquids moved through the Strait of Hormuz in Q1’26, down from 20.4 million barrels per day in Q1’25, according to Bloomberg. Reduced flows through the Strait, which accounts for nearly 25% of global seaborne oil shipments, have led to increased oil-price volatility. So far this year, the price per barrel of Brent crude oil has ranged from a low of $59.96 on January 7, to a high of $118.35 on March 31.
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