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Shipping Through Hormuz Drops Sharply as Tensions Rise
Vessel traffic through the Strait of Hormuz has declined this week from the prior week amid uncertainty about the U.S.-Iran talks and the potential reopening of the Middle East’s key oil and LNG chokepoint.
Summary
Vessel traffic through the Strait of Hormuz has declined this week from the prior week amid uncertainty about the U.S.-Iran talks and the potential reopening of the Middle East’s key oil and LNG chokepoint. Between Monday and Thursday, a total of 33 vessels transited the Strait of Hormuz, down from 50 for the same days last week, according to ship-tracking data monitored by Reuters. On Thursday, as the market was expecting a draft Iran-Oman proposal for management of the Strait, four vessels moved through Hormuz, per Kpler data.
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