The Strait of Hormuz remains effectively closed, posing a severe threat to global energy supplies. This critical maritime chokepoint, responsible for transporting approximately 20% of the world's oil and liquefied natural gas, is experiencing significant disruptions due to heightened geopolitical tensions. The closure has already led to a disruption of around 10 million barrels of oil per day, surpassing the impact of the 1973 Arab oil embargo. The situation is exacerbated by the withdrawal of insurance coverage and shipping operators' reluctance to navigate the strait, driven by increased risk perceptions. Despite military efforts to secure passage, the commercial and insurance sectors remain unconvinced, leading to a de facto shutdown of the route. Analysts warn that if the conflict escalates further, resulting in damage to regional energy infrastructure, the world could face an energy crisis more severe than any since the 1970s.