Oil, Gas & the Iran War
Energy markets · global supply · your gas tank
Iran controls access to the Strait of Hormuz — a 33 km-wide chokepoint at the mouth of the Persian Gulf. About 20 million barrels per day pass through it (20% of global petroleum trade). Iran has threatened to close the strait multiple times during conflicts. Even a partial disruption sends crude prices surging globally — which filters directly into U.S. gas prices within weeks.
U.S. Gas Prices Over Time
Annual average, regular unleaded · hover events for context
Global Oil Consumers
Total petroleum products · million barrels/day · 2024
million barrels/day · 2024 estimate
Production vs. Consumption
Who exports, who depends — the net position tells the real story · 2024
Net = production minus consumption in mb/d · green = net exporter · red = net importer
What Does the U.S. Actually Use Oil For?
Consumption by end-use sector · 20.5 mb/d total · 2024 · hover for details
Nearly three-quarters of U.S. oil goes to moving people and goods. Gasoline for cars alone accounts for roughly half of total consumption — which is why gas prices feel so personal.