Oil Tanker Traffic Through the Strait of Hormuz Nearly Stalls, Data Shows

Oil tanker traffic through the Strait of Hormuz has “basically stalled” as a 60-day ceasefire agreement between the United States and Iran appears increasingly fragile. According to Jin10, citing CNN, Rystad’s head of geopolitical analysis, Jorge Leon, wrote in a Wednesday report that “so far today, traffic appears to have been completely interrupted.” He added that the “basic stall” reflects current risk expectations more than any statements from Washington or Tehran. Kpler data showed that only four tankers had passed through the strait so far today. Kpler senior oil analyst Naven Das said that since the United States and Iran reached a 60-day ceasefire agreement on June 17, the average daily number of tankers transiting the strait was about 32. He said that figure was nearly three times the daily average from the outbreak of the conflict in February through the June 17 agreement, though it remained well below prewar levels.