Several major oil companies and top trading houses have paused shipments of crude oil, fuel, and liquefied natural gas (LNG) through the Strait of Hormuz amid ongoing U.S. and Israeli attacks on Iran and Tehran’s retaliatory strikes.

A senior executive at a leading trading desk said, “Our ships will stay put for several days,” highlighting the immediate disruption to global energy flows, The Caspian Post reports via foreign media.

The U.S. Navy warned against navigation across the Gulf, Gulf of Oman, North Arabian Sea, and the Strait of Hormuz, noting it cannot guarantee the safety of neutral or merchant vessels.

Energy strategist Florence Schmit of Rabobank added, “If Qatar, which plays a key role in balancing both Asian and European LNG markets, is unable to export due to infrastructure damage or shipping disruptions, the impact on global gas prices would be dramatic.”