VLCC market adapts as Hormuz closure reshapes global crude flows

The effective closure of the Strait of Hormuz throughout Q2 2026 has severely disrupted VLCC crude oil trade, forcing rerouting through Fujairah, the Gulf of Oman, and the Red Sea while pushing Atlantic Basin volumes higher. No Arabian Gulf VLCC fixtures were concluded, tonnemile patterns shifted significantly, and markets remain highly volatile pending a geopolitical resolution.