Hormuz Shockwaves: UN Warns Energy Spike Could Ripple Through Global Trade

The UN Trade and Development is warning that the Strait of Hormuz crisis is quickly moving beyond a shipping disruption and into a broader economic shock.

About a quarter of global seaborne oil—and significant LNG and fertilizer volumes—pass through the Strait. With flows now severely disrupted, the effects are already spreading.

Ship transits, which averaged around 129 per day in February, fell into single digits in early March, according to UNCTAD data based on Clarksons. The drop reflects what operators are already doing: holding back, rerouting, or waiting for clearer security conditions.

Markets reacted immediately. Brent crude moved above $90 per