The Strait of Hormuz is experiencing a significant shipping crisis, marked by a near-total paralysis of commercial activities. Following President Donald Trump's naval blockade of Iran-linked ships and Iran's retaliatory closure of the strait, daily transits have dropped from an average of 135 to nearly zero. This situation has left around 20,000 seafarers and hundreds of vessels stranded in the Persian Gulf. The blockade has caused crude oil output from the region to fall by 57%, leading to Brent crude prices soaring to $126 per barrel in March 2026. The crisis escalated after the U.S.-Israel air war against Iran began on February 28, 2026, prompting Iran to restrict traffic using its naval forces. In response, Trump ordered a blockade aimed at preventing Iranian oil exports, which has led to increased military engagement between U.S. and Iranian forces beyond the strait. The blockade's implications extend globally, affecting 25% of seaborne oil and 20% of liquefied natural gas shipments, with severe repercussions for agriculture and logistics as shipping firms incur record premiums to avoid the chaos. Even if diplomatic solutions arise, a return to normal operations could take months due to logistical backlogs and ongoing threats.