Iran’s Islamic Revolutionary Guard Corps said the Hormuz waterway is closed and warned that any vessel attempting passage would be attacked, according to Iranian state media reports carried on 2 March 2026.
The warning came after joint US-Israeli strikes on Iran on 28 February 2026 that reportedly killed Iran’s Supreme Leader Ayatollah Ali Khamenei and other senior officials, sharply raising tensions across West Asia.
Brigadier General Sardar Ebrahim Jabari, described as a senior adviser to the IRGC commander-in-chief, was cited as saying Iranian forces would set ships ablaze if they tried to cross.
The channel sits between Iran and Oman, linking the Persian Gulf with the Gulf of Oman and the Arabian Sea. At its narrowest point it is about 33 km wide, yet it carries one of the world’s heaviest concentrations of crude tanker traffic.
Iranian officials also said regional oil pipelines could be targeted and warned that oil would not be allowed to leave the area. A separate statement carried by Iranian media suggested oil prices could rise sharply in the coming days.
The corridor is widely regarded as the most critical oil transit route globally, with roughly one-fifth of world oil supplies moving through it each day. Major Gulf exporters—including Saudi Arabia, Iran, Iraq and the United Arab Emirates—depend heavily on this sea lane for crude shipments, with most cargoes heading to Asian buyers, particularly China. The report said a sustained disruption could hit refining operations, freight levels and bunker fuel prices worldwide.
Energy markets have already reacted. Natural gas prices surged by nearly 50% in Europe and close to 40% in Asia after QatarEnergy reportedly halted LNG production following attacks on LNG facilities, while oil prices also climbed amid uncertainty over tanker movements and potential production losses.
The report also said Saudi Arabia’s Ras Tanura refinery—rated at more than 500,000 barrels per day—was targeted by drones, though air defence systems intercepted the incoming aircraft. US officials said measures would be introduced to ease rising energy prices linked to the conflict.
The renewed focus on the Hormuz route adds to wider security pressures on commercial shipping. Since 2023, drone and missile attacks linked to Yemen’s Iran-aligned Houthi militants have targeted vessels in the Red Sea and Gulf of Aden. The latest threat, the report noted, increases exposure for tanker operators, charterers and marine insurers, with war-risk premiums expected to rise if the security picture deteriorates further.
