# With the Strait of Hormuz closed, the Panama Canal is busier than ever. It should use this windfall wisely. - Atlantic Council

> The closure of the Strait of Hormuz has sharply increased demand for Panama Canal transits, with US fuel exports reaching record highs as countries seek non-Middle East oil. The Atlantic Council analysis argues the canal should capture this windfall, noting the canal handles about 13,000 ships yearly versus roughly 35,000 through Hormuz before the conflict.

- Date: 2026-05-21 · published 2026-05-21T12:00:00.000Z
- Category: logistics · region Global · magnitude low
- Page: https://feedsoft.ai/events/16861-with-the-strait-of-hormuz-closed-the-panama-canal-is-busier-than-ever-it-should
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Shifting energy and cargo flows through Panama raise canal premiums and congestion costs for bulk and grain shipments, while the rerouting of global shipping adds freight cost pressure on US export routes.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-03-12 | [With the Strait of Hormuz choked by war, the Panama Canal reaps the benefits \| CNN](https://feedsoft.ai/events/16871-with-the-strait-of-hormuz-choked-by-war-the-panama-canal-reaps-the-benefits-cnn.md) | +10.6% | +13.9% |
| WTI | 2026-03-04 | [Closure of the Strait of Hormuz causes urea, diesel prices to spike as planting season begins in Arkansas](https://feedsoft.ai/events/4429-closure-of-the-strait-of-hormuz-causes-urea-diesel-prices-to-spike-as-planting.md) | +12.2% | +37.4% |
| WTI | 2026-09-17 | [Panama Canal stress shows the real shipping squeeze may still be ahead \| Reuters](https://feedsoft.ai/events/16765-panama-canal-stress-shows-the-real-shipping-squeeze-may-still-be-ahead-reuters.md) | -7.8% | -6.5% |
| WTI | 2026-05-21 | [Iran war boosts Panama Canal traffic](https://feedsoft.ai/events/16859-iran-war-boosts-panama-canal-traffic.md) | -8.7% | -14.0% |
| WTI | 2026-03-19 | [US crude heads to Asia via Panama Canal as Iran crisis redraws trade flows \| Reuters](https://feedsoft.ai/events/16872-us-crude-heads-to-asia-via-panama-canal-as-iran-crisis-redraws-trade-flows.md) | -5.3% | -0.3% |
| BRENT | 2026-03-19 | [US crude heads to Asia via Panama Canal as Iran crisis redraws trade flows \| Reuters](https://feedsoft.ai/events/16872-us-crude-heads-to-asia-via-panama-canal-as-iran-crisis-redraws-trade-flows.md) | -6.2% | -4.4% |
| BRENT | 2021-03-24 | [Oil gains more than $3/bbl after Suez Canal ship grounding](https://feedsoft.ai/events/48292-oil-gains-more-than-3-bbl-after-suez-canal-ship-grounding.md) | +5.5% | +7.1% |
| BRENT | 2022-03-08 | [Soaring bunker prices could hasten 'return to normal' for liner trades - The Loadstar](https://feedsoft.ai/events/11762-soaring-bunker-prices-could-hasten-return-to-normal-for-liner-trades-the.md) | -13.8% | -14.5% |

## Sources

- atlanticcouncil.org: https://www.atlanticcouncil.org/dispatches/with-the-strait-of-hormuz-closed-the-panama-canal-is-busier-than-ever-it-should-use-this-windfall-wisely/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.