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Middle East oil exports drop at least 60% as Strait of Hormuz stays mostly closed, data shows

Daily oil exports from the Middle Eastern Gulf, home to top exporter Saudi Arabia and other major producers, have dropped by at least 60 per cent in the week to March 15 compared to February due to disruptions and output cuts amid the U.S.-Iran war, according to shipping data and Reuters calculations.

Mar 16, 2026 &03131616202631; 21:13 UTC www.bnnbloomberg.ca Trending 2/5

Read original on www.bnnbloomberg.ca ↗

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Negative for markets

Sentiment score: -75/100

High impact Immediate effect (hours)

WHAT THIS MEANS

Middle East oil exports have plummeted by at least 60% in the week to March 15 compared to February due to Strait of Hormuz disruptions and U.S.-Iran tensions, creating significant supply constraints in global energy markets. This dramatic reduction threatens to drive crude prices substantially higher and could trigger broader inflationary pressures across economies dependent on oil imports.

AI CONFIDENCE

92% Very high

SENTIMENT GAUGE

NEWS POWER SCORE

AFFECTED ASSETS

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Oil (WTI Crude)

CL=FCommodity

Expected to rise

60% reduction in Middle East oil exports creates severe supply shortage, driving crude prices higher

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Gold Futures

GC=FCommodity

Expected to rise

Safe-haven demand increases amid geopolitical tensions and inflation concerns from energy crisis

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Euro / US Dollar

EURUSDCurrency

High volatility expected

Oil price surge creates inflation concerns affecting ECB policy and currency valuation

↓

Euro Stoxx 50

^STOXX50EIndex

Expected to decline

European equities pressured by energy cost inflation and economic slowdown risks

⇅

S&P 500

^GSPCIndex

High volatility expected

Mixed impact: energy stocks rally but broader market concerns over inflation and growth

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10-Year Treasury Yield

^TNXBond

Expected to rise

Inflation expectations rise from energy crisis, pushing bond yields higher

PRICE HISTORY

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⚡ SUGGESTED ACTION

Long crude oil (CL=F) and gold (GC=F) as immediate hedges against supply shock and inflation. Consider reducing exposure to energy-intensive sectors and cyclical equities; rotate toward defensive and energy producer stocks. Monitor Strait of Hormuz developments closely for potential escalation.

KEY SIGNALS

Strait of Hormuz closure - critical chokepoint for 20% of global oil supplyU.S.-Iran escalation - geopolitical risk premium expandingSupply shock - 60% export reduction unprecedented in recent historyInflation catalyst - energy costs will cascade through economySafe-haven flows - gold and defensive assets gaining demand

SECTORS INVOLVED

EnergyTransportationUtilitiesConsumer DiscretionaryFinancials

Analysis generated on Mar 16, 2026 at 17:30 UTC

Disclaimer: This analysis is generated by artificial intelligence for informational purposes only and does not constitute financial advice, investment recommendation, or solicitation. Original reporting by BNN Bloomberg. Always conduct your own research and consult a qualified financial advisor before making investment decisions.

Middle East oil exports drop at least 60% as Strait of Hormuz stays mostly closed, data shows

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