Khaberni - "Bloomberg" reported today, Sunday, that the closure of the Strait of Hormuz led to a sharp decline in global oil flows, by about 11 million barrels per day, causing a significant fuel supply gap.
According to data quoted by the agency, "the closure of the Strait of Hormuz reduced global oil flows by about 11 million barrels per day."
"Bloomberg" added, "The shortage in fuel supply has created a gap of approximately 9 million barrels per day, which exceeds the total consumption of several European countries."
The conflict in the Middle East has led to disruptions in energy and transportation markets, in addition to disruptions in global shipping.
Iran closed the Strait of Hormuz; preventing about one-fifth of the world's oil and liquefied natural gas supplies from passing through. This caused the price of crude oil to rise to over $100 per barrel.
