A map made by investment bank JP Morgan illustrates when when final shipments of Gulf oil will arrive across the world, with the UK expecting their last delivery next week.
Other destinations are expecting to have their supplies halted earlier, with areas in Asia and some of Africa being cut off from April 1.
In the US, deliveries will end on April 15 according to the map.
It is reported that due to the country’s large domestic oil output shortages are unlikely.
In Europe it is also improbable that there will be supply shortages, with drivers expected to feel the impact trhough further price increases.
JP Morgan analysts noted that the global oil system is ‘shifting from a flow shock to a stock depletion problem’, meaning existing reserves are being steadily drained.
The map depicts the last tanker departing the Strait of Hormuz on February 28, the day war began, with traffic after this being largely halted.
“The global system is shifting from a flow shock to a stock depletion problems, where timing, not just volumes, drives the impact,” analysts said.
The crisis has pushed up prices and caused economic uncertainty around the world.
Sir Keir Starmer has invited bosses from energy, shipping and banking firms to Number 10 to discuss Iran’s ongoing blockade of the Strait of Hormuz.
Representatives from firms like Shell and BP, shipping giant Maersk, maritime insurance specialist Lloyd’s of London and banks HSBC and Goldman Sachs were told that the Government is working on a “viable plan” for the Strait of Hormuz.
The cost of oil benchmark Brent crude lifted more than 3 per cent to 117 dollars a barrel at one stage in Monday morning trading, reaching levels not seen since 2022.
Diesel prices have also soared to their most expensive since December 2022, with the average price of a litre of the fuel at UK petrol stations on Monday hitting 181.2p according to RAC analysis.
Since the beginning of the conflict in the Middle East that is a 27 per cent increase.
Average petrol prices have reached 152.0p per litre, a rise of 14 per cent from 132.8p since February 28.
