Forex▼ Bearish
Oil Disruption Deepens as Strait of Hormuz Traffic Collapses
Strait of Hormuz traffic has fallen to its lowest since the conflict peak, with oil and LNG shipments at a standstill. Iran says any reopening depends on security.
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Ship traffic through the Strait of Hormuz has fallen to single digits per day, the lowest since the peak of the conflict, as renewed US-Iran military strikes reversed a brief ceasefire. The US reimposed a naval blockade at the other end of the strait, effectively resetting the ceasefire deal signed late last month.
Verified crossings dropped to fewer than 10 vessels per day since July 18, shiptracking data show. Even when accounting for shadow fleet traffic, the count was 13–19 vessels per day over the weekend. Oil and LNG shipments have largely halted. Only one very large crude carrier (VLCC) has managed to transit the strait since July 18, and no LNG tankers have crossed since July 16, a major setback for Qatar's exports.