Hormoz Crisis Disrupts Oil Market

The disruptions in the Strait of Hormuz have had a significant impact on the oil market, as stranded barrels have turned into floating inventories due to movement restrictions and halted shipping flows. This has led to an unprecedented rise in storage demand, which is now being used as a means of risk management and hedging against supply disruptions, rather than solely for transportation purposes. Increasing reliance on tankers as floating storage has driven up shipping costs and prices, while also reducing the number of vessels available for shipping. The demand for storage, combined with escalating tensions, is particularly concentrated in hubs such as Fujairah and Singapore, reflecting a structural shift in oil supply risk management. These effects are expected to persist even after shipping activities return to normal.

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