At Least 700 Tankers Trapped on Strait of Hormuz, Concern for India over Fuel Security

Tehran: Around 706 non-Iranian tankers are currently backed up on either side of the Strait of Hormuz as the war with Iran, US and Israel goes on.

The trapped tankers include 334 crude oil carriers, 109 dirty product tankers, and 263 clean product vessels. Additionally, 26 tankers are drifting inside the Persian Gulf without assigned destinations, and hundreds more are idling in the Gulf of Oman.

The critical waterway, which normally handles roughly one-fifth of the world’s oil trade, has seen commercial movements drop to near zero amid escalating regional tensions, even though no formal closure has been declared.

Maritime data from analytics providers Windward and Kpler shows that on March 1, only three tankers carrying about 2.8 million barrels passed through the strait, an 86% decline from the 2026 average daily volume of 19.8 million barrels.

By the early hours of March 2, just one small tanker and one small cargo ship were observed using the main channels.

Energy markets have reacted sharply to the bottleneck.

Brent crude jumped nearly 10% to around $80 per barrel, while European natural gas prices soared more than 40% after recent attacks forced temporary shutdowns at Saudi Arabia’s Ras Tanura refinery and a major Qatari LNG facility.

If the near-paralysis continues for more than a few days, tanker queues are expected to lengthen dramatically, delivery schedules will disintegrate, and already elevated war-risk insurance premiums and freight rates for Gulf voyages will climb further — costs that ultimately feed into higher pump prices worldwide.

For India, the implications are especially concerning. The country relies heavily on Gulf crude and is the world’s largest importer of liquefied petroleum gas (LPG), with 80–85% of its LPG requirements arriving via the Strait of Hormuz.

Industry estimates indicate that current LPG stocks would last less than two weeks without fresh cargoes. Overall strategic and commercial reserves of crude and refined products are reported to cover roughly 74 days of demand, but dedicated crude storage holds only about 17–18 days, refined fuels around 20–21 days, and LNG stocks approximately 10–12 days.

In response, the Indian government is closely watching developments. Oil Minister Hardeep Puri has reviewed national supplies, and the Ministry of Petroleum and Natural Gas stated on X that it is “continuously monitoring the evolving situation” and will take all necessary measures to ensure the availability and affordability of major petroleum products.

Reports suggest New Delhi is considering emergency steps such as temporarily restricting exports of petrol and diesel (India exports roughly one-third of its petrol and one-quarter of its diesel production), accelerating imports of Russian crude and increasing LPG production at domestic refineries. 

If the disruption persists, India may consider introducing demand-management measures that could include rationing of LPG.

Also Read: Hormuz Flashpoint: How a Possible Blockade Could Hit India’s Economy, Fuel Prices and Energy Security