The Strait of Hormuz is facing a blockade. These countries will be most impacted

In this article XOM Follow your favorite stocks CREATE FREE ACCOUNT Commercial ships anchor off the coast of the United Arab Emirates due to navigation disruptions in the Strait of Hormuz, Dubai on March 2, 2026. Anadolu | Getty Images The closure of the Strait of Hormuz by Iran is sending shockwaves across global energy markets, with Asia expected to face the maximum pain. A senior commander from Iran's Revolutionary Guards said Monday that the Strait of Hormuz had been shut and warned that any vessel attempting to transit the waterway would be targeted, Iranian media reported. Located between Oman and Iran, the Strait functions as a vital artery for global oil trade. Roughly 13 million barrels per day passed through it in 2025, representing about 31% of all seaborne crude flows, according to energy consulting firm Kpler. A prolonged closure of the Strait would likely lead to a further surge in oil prices , with some analysts seeing oil crossing $100 per barrel. Global benchmark Brent was last up 2.6% at around $80 per barrel —almost 10% higher since the conflict broke out. About 20% of global liquefied natural gas exports that come from the Gulf are also at risk, primarily those originating from Qatar and shipped via the Strait of Hormuz, according to Kpler. Qatar, one of the world's largest providers of LNG, halted production on Monday after Iranian drones hit its facilities at Ras Laffan Industrial City and Mesaieed Industrial City. "In Asia, Thailand, India, Korea and the Philippines are the most vulnerable to higher oil prices, due to their high import dependence, while Malaysia would be a relative beneficiary since it is an energy exporter," Nomura wrote in a note on Monday. Here's how those reliant on Gulf energy and shipments via the Strait of Hormuz stand to be impacted. South Asia: immediate physical strain South Asia would face the most acute disruption, particularly when it comes to supplies of LNG, analysts said. Qatar and the UAE account for 99% of Pa...