Dhaka, March 13 -- The near-shutdown of the Strait of Hormuz has trapped millions of barrels of crude oil since the start of the war in the Middle East, causing Gulf oil producers to suffer an estimated $15.1 billion loss in energy revenue, according to the Financial Times.

Estimates provided by commodities analytics firm Kpler say the state typically carries $1.2 billion worth of crude, refined products, and liquified natural gas each day.

Since Feb 28, traffic along the critical shipping route has ground to a halt as Iran has attacked vessels and insurance premiums have soared.

Crude oil accounted for the largest share of halted shipments, representing nearly 71 percent of the value.

Data analytics group Wood Mackenzie says Saudi Ar...