At least 200 ships, including oil and liquefied natural gas tankers, remain stranded off the coast of major Gulf producers including Iraq, Saudi Arabia, and Qatar. The waterway is a crucial artery for around a fifth of the world's oil and LNG supply. Qatar suspended its gas output and Iraq cut its oil production as both ran out of storage for gas and oil, leaving them unable to load it in tankers. The International Development Finance Corporation has requested insurance and financial guarantees for maritime trade in the Gulf. The bank also anticipates longer-than-expected disruption to exports of oil and gas through the Strait of Hormuz and damage to oil production facilities.