The Strait of Hormuz now has only a handful of ships sailing each day, either at their own risk or escorted by the US Navy, a tiny fraction of the traffic that passed through the waterway before the first strikes on Iran earlier in 2026, according to El País.

Qatar, the world’s second-largest exporter of liquefied natural gas (LNG), has been forced to cancel the bulk of its sales to the European Union (EU) and Asia citing “force majeure” over the closure of Hormuz. Continental reserves of LNG, key for industry and heating, are at their lowest in more than a decade and about 20 percentage points below where they usually stand at this time of year.