Japanese trading giant Itochu Corporation has reported disruptions to its crude oil and petroleum product shipments from the Gulf, citing fallout from recent US and Israeli strikes on Iran.
According to Reuters, the company said it is experiencing “some impact” on cargo movements because several regional ports have been affected by the escalating security situation. Itochu added that it is moving to mitigate risks by sourcing energy supplies from outside the Middle East.
Tokyo-based Itochu is a diversified trading house with operations spanning textiles, machinery, metals, energy and chemicals, food, housing and real estate, as well as finance and insurance. The company is one of Japan’s major “sogo shosha” conglomerates with extensive global commodity exposure.
Strategic Waterway Under Pressure
Market concerns have intensified around the Strait of Hormuz, the narrow maritime corridor between Iran and the Arabian Peninsula. Roughly 20–30 percent of the world’s seaborne oil passes through the strait, making it one of the most critical energy chokepoints globally.
Global oil prices have climbed after multiple maritime security incidents near the waterway. The United Kingdom Maritime Trade Operations (UKMTO) reported that two vessels were struck, while an “unknown projectile” detonated close to a third ship.
Iran has warned commercial vessels against transiting the strait, further heightening uncertainty for global shipping and energy markets.
Shipping Slowdown Raises Alarm
Industry analysts say traffic near the entrance to the strait has slowed sharply, with some operators delaying or rerouting voyages. There are growing concerns that a prolonged confrontation in the region could drive energy prices significantly higher and disrupt supply chains worldwide. Authorities and market watchers are continuing to monitor developments closely as tensions across the Middle East remain elevated.
