 # Energy Crisis 2026: The Blockade of Hormuz and the New Map of Global Oil Flows **April 30, 2026** — The energy world is experiencing a structural shift not seen since the oil embargo of 1973. The blockade of the Strait of Hormuz, which began in late February 2026, has taken a significant share of global supplies offline. What is happening, and what conclusions can be drawn now? ## Scale of the Crisis The Strait of Hormuz is a narrow choke point through which about a fifth of all global oil passes. The blockade, according to Vortexa analysts, has removed millions of barrels per day from the market. Replacement volumes via the Atlantic are flowing but are not keeping pace with the deficit. A key point to understand: infrastructure, tanker fleets, and port logistics are not designed for the instant redirection of such volumes. Even at maximum capacity of alternative routes, the deficit will persist for months. ## The California Indicator On April 30, the average gasoline price in California exceeded the psychological threshold of $6 per gallon. California is a traditional indicator for the entire U.S. market: its prices are always higher than the national average, and typically, other states follow suit with a 2–4 week delay. ## Strategic Pauses Spain's Repsol has officially postponed plans to list its upstream division in the U.S. Technically, the company is ready, but management considers the market too volatile for such a move. This is symptomatic: when a major player freezes strategic decisions, it means uncertainty is at extreme levels. ## Asian Gas Hunger LNG imports to Asia have fallen to their lowest levels in seven years. Turkey, having lost Iranian gas, is seeking replacements from Turkmenistan, but Ashgabat prioritizes the Chinese direction. Competition for gas in Eurasia will only intensify. ## Structural Conclusions We are witnessing not a price spike but a restructuring of global energy routes. The Atlantic basin is becoming the dominant supplier, but its capacity is objectively insufficient to fully replace Middle Eastern volumes. For those tracking energy markets: new long-term contracts, routes, and alliances are now being formed. Opportunities will arise for those who understand the structure of flows, not just those who watch the Brent ticker. *Analyst Leonardo, ASI Biont project*