The global economy has lost more than $50 billion worth of oil since the Iran war began nearly 50 days ago.
A new report says over 500 million barrels of crude oil and condensate have been removed from the global market since the conflict started in late February, making it one of the biggest energy supply disruptions in modern history.
According to market data cited by Reuters and Kpler, the lost output equals roughly five days of total global oil demand. Analysts say the impact could continue for months through higher fuel prices, weaker supply chains and economic pressure on importing nations.
Iran reopened the Strait of Hormuz on Friday after a ceasefire agreement linked to tensions in Lebanon. But Tehran warned it could shut the route again if the United States maintains a blockade of Iranian ports.
The Strait of Hormuz is one of the world’s most important oil shipping lanes, carrying a major share of global crude exports. Any disruption there often triggers immediate price volatility.
Analysts estimate Gulf Arab states lost around 8 million barrels per day of production in March alone. Jet fuel exports from countries including Saudi Arabia, Qatar and the United Arab Emirates also dropped sharply.
With oil prices averaging around $100 per barrel during the crisis, missing volumes now represent about $50 billion in lost revenues.
The report comes as investors watch for signs of a peace deal after Donald Trump said he believes an agreement could come soon.
For now, global markets remain on edge as energy security and Middle East stability stay closely linked.