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The price of the Brent crude oil barrel surpassed 80 dollars in the early days of March, driven by disruptions in the Strait of Hormuz following the attacks by the United States and Israel against Iran in "Operation Epic Fury," according to reports from AP News and The Economic Times.
For Cuba, which is already experiencing its worst energy crisis in decades with reserves lasting barely 15 to 20 days, the rising cost of crude oil in international markets further tightens the noose around an island that receives only a minimal fraction of the fuel it needs to operate.
The Strait of Hormuz, through which approximately 20% of the world's oil —about 16.7 million barrels daily by 2025— flows, has become the epicenter of the global energy crisis. Although Iran did not formally announce its closure, the Revolutionary Guard attacked oil tankers and warned that shipping companies and oil firms avoid the passage due to the risk of further attacks, anticipating a sharp rise in oil prices.
For Cuba, the impact is devastating at a time when the country could run out of oil in less than a month. The rising cost of oil on international markets makes it nearly impossible for the regime to acquire additional fuel, given that Cuba cannot pay for its own energy following the collapse of the subsidy system.
The situation is worsening due to the blockade of alternative supplies. Russia, which was considering a potential shipment of crude oil to the island, is facing its own pressures, and a Russian oil tanker destined for Cuba was detained in the Atlantic. At the same time, the United States began the confiscation of a tanker carrying Venezuelan crude that was headed to the island.
The electrical deficit in Cuba approaches 1,800 megawatts, a figure that reflects the collapse of the national electro-energy system. The consequences extend to the entire economy: the fuel crisis puts 96% of small and medium-sized enterprises at risk, while tourism, one of the few sources of foreign exchange for the regime, recorded 24,000 fewer travelers in January compared to the previous year.
Venezuela's dependence as a historic supplier of subsidized oil has also been compromised. According to analysts, the Cuban regime resold a large portion of the imported oil to finance its repressive machinery, a practice that is now taking its toll amid global shortages. With tensions in the Strait of Hormuz and global energy markets on high alert, Cuba is facing a situation with no visible short-term solutions.
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