When the war began on February 28, large quantities of oil were already on ships that had passed through the strait on their way to their final ports, so it has taken a while for supplies to decrease in the countries that buy the oil.
The travel time varies, from a few weeks to more than a month and a half.
According to an analysis by investment bank JP Morgan, the last deliveries will reach Asia, where the largest buyers of oil from the Persian Gulf are located, on April 1.
In Africa, deliveries have already stopped, while the last oil is expected to arrive in Europe around April 10 and a few days later in the US. In Australia, it will take until April 20.
The entire supply chain is destroyed, but it only gets more destroyed the further we go. This is now becoming a much bigger problem than it was in the first month of the war, Ole Hvalbye, commodities analyst at SEB, told Di.
For Europe and the US, it is less about shortages, since the amount of oil from the Middle East is relatively small, and more about price effects and competition on the world market.
